China announced that it would certainly block access to all foreign sites relating to the trading of crypto-currencies. A new that made a lot of noise and that could have an impact on the price of virtual currencies.
New regulatory measures
The chinese authorities wish to put in place regulatory measures. The objective is to limit the use of trading platforms foreign, or even to prohibit them. Thus, chinese citizens could continue to trade crypto-currencies, but they won’t be able to do it via platforms of foreign. It would appear that this decision is to be taken to prevent and limit financial risks. This is not the first time that China is taking radical decisions concerning crypto-currencies. Indeed, at the beginning of the month of September 2017, the authorities had banned the ICO and to close exchange platforms domestic.
Pixabay – Quince Media
This decision prohibiting the access to the trading platforms foreign comes after the failure of the previous measures, dating back to January 2018. In effect, the country wants to put an end to the purchase of crypto-currencies, but this was not a success. China has instead warned investors about the risks associated with crypto-currencies, and will deny them access to platforms foreign. It is a restrictive regulatory framework so that allows you to restrict the field of action for investors.
Of the anticipated consequences
We know that China has a certain influence on the market of the crypto-currency, and this announcement may well have international repercussions. However, experts estimate that in the current context of a bear market, this new regulatory framework, the chinese should not have disastrous consequences. Especially as China has already declared war on the digital currencies for several months.
Pixabay – Vjkombajn
China continues to limit to the maximum investments in the crypto-currency. The measure is not yet effective. Caution is therefore required, and it will have to wait a few weeks yet to discover the entirety of the chinese regulations.
Source : NCC