Rumors or Facts? China Reportedly Moves to Block Access to All Major Bitcoin Exchanges

An unverified notice surfaced on the Internet about China moving to block access to all major cryptocurrency exchanges.

Commenting on the move, Simon Dixon, investment Banker and author of ‘Bank to the Future’, wrote: “ They tried to copy it, fork it, ban it, clone it, ridicule it, launch at it, discredit it and kill it, and yet #Bitcoin is still sound money”.

The notice that is being circulating now is directed to the Department of Internet Monitoring, Security Center, Engineering and Technical Center, as well as the Operation and Maintenance Center.


It supposedly calls for all technical preparation work to block overseas’ Bitcoin trading activities to be completed before September 30th, in lieu of the central government’s order to rectify the trading of digital currency.

FUD?

The overall plan includes the following points:

  1. To block all access to important platforms such as Coinbase, Bitfinex and Localbitcoins, including access through web, apps and APIs,
  2. To block all access to Bitcoin’s seed addressing,
  3. To abandon Bitcoin’s ledger synchronous data by DPI recognition on the Great Firewall.

The notice lists Coinbase, Okek, Okcoin, Bithumb, Bittrex, Coinone, Bitflyer, Bitstamp, Bitstar, Bitfinex, Poloniex, Kraken, Bitmex and Localbitcoins as important platforms.

It calls for the Internet Monitoring Department to submit the IP and DNS addresses of the listed platforms, to be submitted to the Technical and Engineering Center before Sept. 25.

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The notice also calls for information regarding mining pools, and to be able to cut off communication between mining pools and the outside.

Furthermore, it calls for the activities of TOR and VPN to be monitored, with any high frequency or abnormal activity to be reported immediately.

Hong Kong strengthened

Earlier, we reported that China’s restrictions on Bitcoin trading and usage will drive businesses to Hong Kong and nearby countries, like Japan and South Korea.

Because of the high level of state monitoring and policing of individuals, Bitcoin enthusiasts have deflected from WeChat in China, as it is the country’s dominant messaging app, approved by the government.

Other encrypted messaging platforms, like Telegram, have seen a surge in Bitcoin users setting up groups which have mushroomed in quick succession.

Bitcoin Exchange block

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78 Replies to “Rumors or Facts? China Reportedly Moves to Block Access to All Major Bitcoin Exchanges”

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