China’s State News Agency Supports Bitcoin Sanctions

Chinese government’s media arm, Xinhua News Agency, has recently defended radical decisions such as banning ICO sales and closing Bitcoin exchanges.

Heavily critical of cryptocurrency exchanges in an article today, Xinhua said such exchanges are a favorite of criminals around the world. He said it was his address. The Xinhua Agency said that cryptocurrency exchanges are “fake pyramid schemes”, “engaging in illegal activities” and committing criminal acts under the name of “scientific and technological innovation.”

China with “zero tolerance” to financial risks and illegal actions praising his government, the news agency says that the only way to solve this ‘dangerous’ situation is for the government to “hide his fist on the table.” It is used for money laundering, drug dealing, smuggling, illegal money collection. The article says that cryptocurrencies have become the economic tool of criminals due to their lack of surveillance. On the contrary, governments and central banks must legally regulate cryptocurrencies as soon as possible. To organize anti-laundering actions, to use real names of users, to limit large-scale transactions.

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