The two most popular Crypto market data providing companies have been blocked by the government of China from providing market analysis to the citizens following the recent ban from China for the 100th time.
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The Chinese government evaluated the access to crypto market information as a danger to the country’s anti-crypto.
The Internet firewall became apparent in the early hours of Tuesday in China. It is believed that the cutting off of Chinese IP access is the result of a move by China’s internet censorship agency, and not a move by neither CoinMarketCap nor CoinGecko.
The siege of CoinMarketCap and CoinGecko comes 4 days after the People’s Bank of China declared that all virtual currency-related business activities are illegal financial activities, warning that it “seriously endangers the safety of people’s assets”.
With the internet firewall blockage move y the Chinese government, it is becoming obvious that the war against virtual currencies, including cryptocurrencies or crypto assets, in China is not going to be FUD like the crypto community are expecting.
The war chest of the Government of the People’s Republic of China is also at the war front. So just as crypto companies are already on exodus in China, Chinese users of virtual currencies will no longer have normal access to crypto-market tools and information on the blocked sites.
While the Internet firewall blocks all users in China, virtual private networks (VPN) may still be used by users who are based in mainland China to access the blocked websites.
Since the People’s Bank of China announced last Friday that virtual currencies were illegal and renewed its crackdown on crypto mining and crypto trading in China, the use of VPNs in China has started increasing.
The Chinese crypto community is a major role player in market making. The question now is “Will other anti-crypto central banks and governments also introduce internet firewalls in their countries to stop the increasing adoption of cryptocurrency or crypto assets?