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China is on the verge of a complete ban on crypto-currency trading

A few days ago, it became known that the largest social networks and search systems in China began to block any information related to crypto-currencies. This became the next step of the Chinese authorities to the total ban of cryptotrading in the whole country.

News outlets state that earlierthat measures taken by the state were ignored and, despite the closure of local exchanges, transactions with virtual currencies did not stop. While local investors have access to foreign exchange platforms, it is impossible to stop cryptotrading in China.

According to the state control bodies,the process of carrying out transactions through foreign stock exchanges may turn into problems for traders with fraudulent schemes and financial pyramids. Therefore, the state intends to toughen the regulation of access of local investors to third-party trading platforms.

This behavior is not something sudden. Statements about a possible prohibition of access to resources for centralized trading were received a few weeks ago. Then in the center of attention of officials there were exchanges and mobile applications being their analogues.

Obviously, everything says aboutthe creation of another "Great Chinese firewall," aimed at the digital assets industry as a whole.