Chinese Crypto Crackdown Forces Chinese Crypto News Sites To Crash

2021-11-17 17:06:25
China Intensifies The War On Crypto

Several Chinese crypto news websites were inaccessible and facing shutdown as a result of the ongoing, government crypto crackdown. China started the massive anti-crypto campaign earlier this year, with still no clear end in sight.

The affected crypto news sites include ChainNews, Block123 and Odaily.

ChainNews announced on the 15th of November via Twitter, that their Telegram account will undergo maintenance in the next 8-10. However, this ‘blackout’ lasted until the 17th of November, and ChainNews still hasn’t come out with an official statement, i.e. explanation.

Moreover, Block123 is another site that is not accessible on the 17th of November. Same as with ChainNews, Block123 is still silent on the matter.

Odaily is the third Chinese site that is inaccessible since November the 16th. The only suspicious activity is that on the 9th of October, Odaily invited its users to join the official Telegram community. Yet, just as the previous two, there is no official statement from Odaily on the matter.

Consequently, with the exception of Block123, the other two are still active on Twitter and Telegram. Despite the fact that China banned both social platforms.

Banks As Media Supervisors?

On the 24th of September, China published its strictest anti-crypto policy to date. As a result, the People’s Bank of China took it upon themselves to oversee all crypto-related media, including websites and exchanges.

In order to successfully do so, the Chinese central bank will have the assistance of 7 other Chinese regulators. With this, China clearly intensifies the war on crypto. And what better than by censoring the news, and consequently controlling the flow of information?

Furthermore, it seems like even high-ranking officials are not immune when it comes to crypto. That is the case with Xiao Yi, a high-ranking member of the Communist Party of China. Specifically, due to involvement in illegal crypto mining, the Party announced that Mr Yi will be expelled.

Unfortunately, this will probably make Yi the highest-ranking party official in China to stand trial for involvement with crypto.

According to Tuesday’s new anti-crypto policy, the shutdown of the Chinese crypto news sites is only the beginning. As a matter of fact, the Chinese government already revealed phase two of their anti-crypto crackdown. All in all, not a good time to be a crypto enthusiast in China.


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