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China Lifting the Ban on Cryptocurrency?

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February 6, 2018 | 

964 Views | 

Joanna Newman | 

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There is still much indecision about Blockchain in the Eastern world.

Last year in September, the country’s national bank, the People’s Bank of Chain (PBOC) banned Initial Coin Offerings within the country. After careful consideration, they deemed about 90% of ICOs in the country to be fraudulent. Since then, the country has also called for a ban on cryptocurrency trading websites and even the mining of digital currency.

Recently, the South China Morning Post’s website reported that there are no longer any traces of search terms such as “Bitcoin”, “cryptocurrency” or “ICO’ on the Chinese search engine Baidu or Weibo, a sort of Chinese Twitter.

In an email, Weibo confirmed that cryptocurrency advertising will no longer be allowed on their platform. After the initial ban on cryptocurrency advertising in August 2016, Baidu had re-allowed advertising without explication, before finally banning them again.


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