But many virtual currency-related websites and are still active.”
“Since the intensive crackdowns on virtual currency transactions since in 2017, China’s domestic virtual currency trading and issuance platforms have been cleaned up and banned. The news agency quoted an expert from a Shanghai Pudong-based “reform and development research institute” as stating, Yet others contained links to “online presentations” from crypto “project leader,” and provided an online “gathering place” for “big shots” in the crypto space – as well as “crypto hype”-promoting articles. The news agency gave examples of websites that compiled news from recent crypto projects from around the world, as well as “trading tutorials” to teach “netizens how to speculate on coins” using “hands-on” methods.Īnother provided an “online registration” function for traders accessing overseas platforms and check on “the exchange activities of virtual currency projects.” However, others are more flagrantly offering crypto tutorials, organizing live in-person or online “events,” to “attract traffic to various overseas”-based crypto providers. Xinhua claims it has unearthed evidence that some Mainland websites are still promoting crypto, often “under the guise of blockchain and metaverse-related activities. Per the state-owned news agency Xinhua, recent proclamations from the central People’s Bank of China (PBoC) and government organs have “clarified that virtual currency-related business activities classify as illegal financial activities,” and that parties who “produce or circulate marketing and publicity for overseas virtual currency exchanges must be held accountable in accordance with the law.”
Some Chinese sites are “still selling” crypto, raising funds in tokens like bitcoin (BTC) and ethereum (ETH), and circulating crypto-related news stories from within the Mainland, a report has claimed, citing evidence from government-aligned agencies.
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