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China’s approach continues to be tougher; Coin Market Cup blockade and new restrictions in the field of mining

Following increased pressure from Chinese authorities on digital currency-related activities, the Alibaba online store has announced that it will stop selling the mining machine for another two weeks. Reports indicate that access to the CoinMarketCap and CoinGecko platforms has also been blocked for Internet users in the country.

According to Digital Currency and quoting various sources, Alibaba, one of the largest online stores in the world, announced on Monday that it will stop selling digital currency extraction devices on its platform from October 8 (October 16).

In a new statement, Alibaba cited new regulations issued by China’s central bank and other regulators banning digital currency-related activities.

Alibaba wrote in his announcement: after reviewing and considering the instability of digital currency rules and regulations and related products in global markets, in addition to stopping the sale of digital currency mining devices, selling digital currencies such as Bitcoin, Litecoin, BeaoCoin, It will also stop QuarkCoin and Ethereum.

Alibaba said the new restrictions include, but are not limited to, the software and hardware needed to extract digital currencies, as well as training content, strategies and software, such as mining training courses, that are used to acquire digital currencies.

Chinese authorities began a serious ban on mining-related activities earlier this year, which eventually led to the migration of Chinese miners to other countries. Sparkpool, one of the oldest Ethereum mining pools in China, recently shut down.

A Chinese local media outlet also reported that the country’s Development and Improvement Commission had recently noticed the suspicious activities of a warehouse in Inner Mongolia Technology Park and, after the necessary investigations, had discovered and confiscated 10,100 digital currency mining machines at the site. . Chinese officials say the farm consumed 1,104 kWh of electricity. China’s restrictions have so far closed 45 digital currency extraction projects in the Inner Mongolia region, which is said to save 6.58 billion kilowatt-hours of electricity annually.

Following the ban on digital currency trading in China, exchanges such as Bainance and Houbi are also restricting services to Chinese users.

Some believe that a complete ban on trading and extraction of digital currencies in China is in Bitcoin’s interest and provides an opportunity for other countries active in the field.

“US Senator Pat Toomey has said:

The complete ban on bitcoins and digital currencies in China is a great opportunity for the United States and demonstrates the structural superiority of the United States over China. [مقامات چینی] They have a hostile relationship with economic freedom and cannot even tolerate the participation of their people in one of the most exciting innovations of recent decades.

Also read: Banning digital currency trading in China is good for Bitcoin!

Coin Market Cap and Coin Geko blocked in China

Coin Market Cup and Coin Geko, two of the most popular digital currency information platforms, have recently been blocked by the Chinese government firewall.

It is unknown at this time what he will do after leaving the post.

It seems that the IP of Chinese users has not been blocked by these two platforms and this action was related to the Chinese Internet Censorship Agency.

“Lee Geko, the founder of TM Geko,” said:

As far as we know [آی‌پی کاربران چینی را] I did not block.

The filtering of websites active in the field of digital currency information shows that the Chinese authorities, in addition to putting pressure on active and well-established Chinese companies, also intend to restrict Chinese users’ access to digital currency information.

It should be noted that Chinese users can still use IP software (such as VPN) to bypass the government firewall and access these two websites.

Following the announcement by the People’s Bank of China on Friday and the tightening of restrictions on transactions and extraction of digital currencies in the country, the use of VPNs among the Chinese digital currency community is increasing.

Managers of many digital currency-related groups on Chinese messengers WeChat have changed their group names or migrated to Telegram for fear of government action. Many of them have published tutorials on how to set up a VPN and join Telegram groups so that Chinese users can safely discuss digital currencies.


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