184
Beijing’s no-tolerance policy against cryptocurrency is back in full swing again as two of the most popular crypto media outlets in China ChainNews and Odaily have vanished from the internet. ChainNews had earlier tweeted that its website would be down for 10 hours due to maintenance on Monday, however, it remained inaccessible inside as well as outside mainland China until Wednesday.
Similarly, Odaily is another popular crypto news and education platform that has gone dark in the past couple of days. This is not the first time when crypto-related platforms have become inaccessible due to pressure from Beijing. Earlier, In July Bishijie, or Coin World in English also terminated its services in mainland China.
The first major crypto crackdown in China came in May that resulted in a total shutdown of mining operations in the country as China’s Bitcoin mining share fell from over 60% to near zero. China later announced a well-laid-out plan in September to crack down on everything crypto-related. Many thought it was the strictest policy against crypto to date. Beijing also issued a warning against foreign crypto platforms offering their services to mainland China, resulting in several crypto exchanges including Huobi, OKEx, and BINANCE severing any form of operation in the country.
China Faces Third Wave of Crypto Crackdown
The severe crackdown in May and September made many believe that China has finally managed to eradicate crypto completely, however, the recent series of actions suggests it’s going to be a continuous process. This is mainly because it’s near impossible to ban crypto due to its decentralized nature, and it was evident when from the surge in Defi activities post-ban on foreign crypto exchanges.
The Chinese authorities recently arrested a senior government official found to be illegally mining Bitcoin and defying Beijing’s orders. This triggered the third and ongoing wave of crackdowns in the country which many believe also resulted in the recent crypto market correction.
- Price Analysis
- Trending
- Shiba Inu, Floki Inu Price Analysis: Profit-taking Continues As Cryptos Lose Crucial Support Level
- Hive Price Analysis: HIVE Price Rejecting From $1 Resistance, Does It Indicate Another Bearish Reversal?
- Powerledgre Price Analysis: POWR Token Mooning, Is It Ready For A Parabolic Rally?
- GALA Price Analysis: The GALA Token Gave A Decisive Breakout From This Crucial Resistance. Should You Buy?
- DOGE Price Prediction: Time To Buy The Dip As Dogecoin Drops 13% To $0.22
- Bitcoin Price Analysis: BTC Down 11% To $60K But It Is Not Out
- XRP Price Analysis: Ripple May Drop 13% To $1.03
- VeChain Price Analysis: A massive Gain Waiting For VET Investors IF The Price Sustains Above This Crucial Level
- November 15th Price Analysis: Dogecoin, Shiba Inu, Floki Inu
- Crypto.com Coin Price Analysis: CRO Token Rally Resumes; Is There Still An Entry Opportunity?
- Breaking: Popular Chinese Crypto Websites Shuts Down Amid Beijing’s Zero Tolerance Policy
- OneRare Raises $2M In Funding Round To establish the First Metaverse For Food, Gaming, and NFTs
- Binance CEO Reveals his Crypto Portfolio and Plans to Donate His Wealth
- Shiba Inu, Floki Inu Price Analysis: Profit-taking Continues As Cryptos Lose Crucial Support Level
- Ripple Calls SEC approach “hostile”, suggest limitations to regulatory interference in crypto
- Bitcoin’s Institutional Activity Is 8x from 2017, Traders Show Interest to Buy the Dips
- India to Reportedly Permit Use of Cryptocurrencies as an Asset
- Ethereum (ETH) Whale Addresses Are Moving Coins Off Exchanges At Record Rate Despite Correction
- Ripple Highlights Potential Regulatory Framework For U.S Crypto Industry, Insists Regulators Are Doing It Wrongly
- pSTAKE Protocol Raises $10 Million In Funding Round, Becomes Largest Liquid Staking Protocol In The Cosmos Ecosystem
