China will reportedly block anyone in the country from accessing websites that offer cryptocurrency trading services or initial coin offerings (ICOs). Advertisements relating to Bitcoin and other virtual currencies have also been scrubbed from search engines and social media in the country.
The authorities in China have already banned ICOs and shut down domestic exchanges, but that didn’t solve the issue of people accessing foreign services within the country.
Now, according to local media, China will block access to domestic and foreign services “to prevent financial risk.” China has a long tradition of blocking unwanted foreign websites using the so-called Great Firewall of China.
“Overseas transactions and regulatory evasion have resumed,” said an article published Sunday night by the People’s Bank of China-affiliated Financial News, as quoted by the South China Morning Post. “Risks are still there, fueled by illegal issuance, and even fraud and pyramid selling.” […]