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Another ban from China: new restrictions on cryptocurrencies are coming! Here are the details…
China, known for its strict bans on Bitcoin (BTC) and cryptocurrencies, continues to take tough measures.
China, once again in the spotlight due to a new ban, will this time prohibit online marketing of cryptocurrencies.
Eight Chinese government agencies, including the People’s Bank of China, have announced a ban on online marketing services related to the issuance and trading of cryptocurrencies.
In this regard, eight Chinese government agencies, including the People’s Bank of China, published the “Measures for the Regulation of Online Marketing of Financial Products.” These measures will come into force on September 30.
From September 30, online marketing related to cryptocurrencies will only be allowed for platforms approved by the government. This change means that online marketing of financial products will be limited to licensed institutions and relevant platforms.
With this step, Chinese authorities confirm that the issuance and trading of cryptocurrencies fall under the category of illegal financial activity, and advertising activities related to cryptocurrency services carried out by institutions and individuals are completely prohibited.
See also: "A quantum computer has for the first time cracked a 15-bit cryptographic key"
