Cryptocurrency-related advertisements have stopped appearing on Chinese search engine Baidu and social media platform Weibo, amidst reports of Chinas government tightening cryptocurrency and Initial Coin Offering regulations on Sunday, Feb. 4.
The Financial Times of the Peoples Bank of China (PBOC) was told today, Feb. 4, that China will further increase regulatory pressure on cryptocurrency exchange sites and Initial Coin Offerings (ICOs), Chinese news site Sina reported.
Seems cryptocurrency will not recover so much in a short time...
I really dont know why the Chinese Government are doing this things, I think they are being greedy on their jurisdiction, they really want to rule the world most especially in terms of money making that is why they are doing this things. Because of this kind of banning in China our industry is much affected that is why we are in the red zone right now, hopefully the values of the coins will soon rise up once again.
I really do not know why you guys keep stressing yourself over what the media is dropping every now and then, The main purpose is to generate FUDs, the market is already in a lot of it and the whales are still wishing they could have a better chance to drive it down the more so they can hold more positions. Are we not even supposed to be tired and used to the kind of news that comes from China already?