One more district bans crypto events in China

Posted 29 August, 2018

Following Chaoyang District, China's Guangzhou Development District near Hong Kong has reportedly banned crypto promotional activities.

The ban is said to be a part of the measures aimed at keeping financial system secured and stable.

Last week, similar measures were taken in Beijing's Chaoyang District. In that case, it was banned from any crypto events in office buildings, hotels and malls.

Moreover, Chinese regulators also released a warning notice about new ways of fundraising in the cryptocurrency segment, including initial exchange offering and initial fork offering.

As a result, the recent measures indicate that Beijing stays aggressive towards cryptos and keeps expanding its pressure on the local crypto market. Notably, the crypto trading was banned in China back in early 2017 and trading platforms started to close business or relocate to other countries with a more flexible stance of the government.

In addition, the authorities closed some outlets that dealt with blockchain and cryptos using WeChat. Specifically, Tencent's WeChat banned all mass media accounts that are connected with cryptocurrencies. Later, Chinese giant Baidu started filtering and blocking all forum threads that are connected with cryptos in some way. They have also blocked an access to more than 100 websites run by foreign exchanges that offer services to Chinese residents.

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29 August, 2018 17:53

← Crypto prices remain on the rise

Prices for cryptos keeps strengthening in the middle of the week. On the Bitfinex, bitcoin remained above the $7,000 line, changing hands at $7,098 in the second half of the day. Ethereum on this platform rose to $295.  Ripple price improved to 0.35178. Litecoin was quoted at $62.740 (2.32% up).

Crypto prices remain on the rise

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29 August, 2018 13:54

Bithumb said to renew bank agreement, user registration to be restarted →

South Korea's Bithumb, one of the major crypto trading platforms in the country, is said to resume cooperation with Nonghyup bank, which means that the exchange will be able to restart registration for new clients. The companies are likely to sign a contract on August 30. As a result, the renewed agreement will enable Bithumb register real-name virtual accounts of traders. 

Bithumb said to renew bank agreement, user registration to be restarted
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