China Announces: We’ll not regulate the use of bitcoin

The People’s Bank of China has said that the nation has successfully ensured a zero-risk exit for the numerous players in the Crypto business. The statement elaborated that 88 Crypto exchanges and 85 ICO trading platforms have left the country since the introduction of a ban last year. Xinhua overheard Zhongchao Credit Card Industry Development Company’s blockchain analyst Zhang Yifeng praising the regulators for ensuring effective exit that had little impact on the price of the Cryptocurrencies.


The Chinese government started some toughness against the Cryptos early last year. In February this year, news from Hong Kong claimed that adverts of products and services provided by businesses from the Crypto sector had vanished from China’s main search engines and social networks. This has made the local media to see it as a sign that the government is targeting Crypto-related ads.

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