On September 4, 2017, after several warning noises, the Chinese authorities banned all Initial Coin Offerings (ICOs) and ordered all mainland cryptocurrency exchanges to close. Then in early 2018 they blocked access to all domestic and foreign cryptocurrency exchanges and ICO websites.
These actions were designed to dampen the growing mania for cryptocurrency speculation and protect investors from fraud, and on both counts they succeeded. In the process, by banning all trade in cryptocurrency they made it much harder for investors to send money out of the country and allowed the
This post is an exerpt of an original post published on Coinspeaker. All copyrights about images and text belong to their respective owners.Click the above button to read the original post.