China tightens its grip on crypto
China - long known for its hardline stance on cryptocurrencies has taken another aggressive step. This time, authorities are banning crypto-related marketing activities on online platforms, further expanding regulatory control.According to the announcement, eight government agencies, including the People’s Bank of China, jointly issued new regulations aimed at controlling the promotion of financial products related to cryptocurrencies.
Only licensed platforms allowed to advertise
The rules are part of the “Measures for the Administration of Online Financial Marketing” and will officially take effect on September 30.
Under these regulations, only government-approved platforms are permitted to conduct marketing for financial products. This effectively means that crypto-related promotions will be heavily restricted, if not entirely eliminated, from the online environment.
Reaffirming crypto as illegal financial activity
This move further reinforces China’s position that issuing and trading cryptocurrencies are illegal financial activities. Not only trading, but also promotional and marketing activities related to crypto services, whether by organizations or individuals - will be completely banned.
This shows that China is not only controlling capital flows but also tightening its grip on communication channels and user access, aiming to curb the spread of crypto within the country.
