Categories: Market

Two popular Chinese crypto news sites were closed for 2 consecutive days

Two popular crypto news sites in China, ChainNews and Odaily, are currently inaccessible. Many observant people have noticed that this situation has persisted for two consecutive days while Beijing cracks down on crypto mining and trading activities at the same time.

China Targets Crypto News Sites?

ChainNews tweeted Monday that their website will be down for 8-10 hours due to upgrade maintenance. However, the site is not yet available either inside or outside of China today. Additionally, Odaily, an online site that includes cryptocurrencies and NFT tokens, has also gone offline in the past few days.

At the moment, the two companies are silent despite the public question of whether the Chinese government has targeted them?

It’s unclear whether the two sites plan to switch to overseas servers to avoid the wrath of Beijing laws. This is a move that many Chinese crypto exchange, mining and information services have already taken. Even Binance left China amid the crypto crackdown.

Currently, the official Youtube Channels of both news agencies offer links to their communication channels in the Telegram messaging app. As you know, both Twitter and Telegram are banned in China.

This is not the first time China-based crypto information providers have been hit by regulatory crackdowns. In July, the online crypto community Bishijie (Coin World) ceased its website and app operations on the mainland.

The latest move is part of China’s ongoing crackdown on the crypto community. The country’s authorities see Bitcoin as a threat to their financial stability and capital account control.

In June, the exchange operators Huobi and OKCoin deregistered their subsidiary in Beijing. Huobi also introduced a 24-hour cooling-off period and stopped trading derivatives in China. BTC China, which formerly operated the country’s largest cryptocurrency exchange, announced in June that it had pulled out of Bitcoin-related businesses entirely.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.