Tuesday , October 4 2022

Cryptoactive airdrops at Chinese People's Bank CryptoNews


The latest Financial Stability Report of the People's Bank of China, published on 2 November 2008 airdrops they are classified as "hidden" coins (ICO) that are still hidden, although they are banned in China.

Despite efforts to suppress initial offerings in currencies, the People's Bank of China stated that these are they are not stopped and that, moreover, some are made in a disguised form like airdrops The alternative ICO strategy that blockchain projects carry out to advertise and consists of cryptography at the start of the free distribution phase.

In this report, the public financial institution clarifies that issuers with cryptography allocate funds to the participants airdropsrather than sell them on a collective fund date, but part of the encryption is reserved later change them in the cryptographic market as soon as their price increases, thus gaining economic benefits.

Other strategies that were used to circumvent the ICO-related rules of China were also mentioned. For example, foreign agents who invest in cells on behalf of the Chinese people in their country of origin. Taking this into account, the bank stressed which is necessary for state coordination and international support, in terms of regulation, in order to protect investors.

In China, the original offer for currencies (ICO) was banned in China last year, and it was forbidden to close the cryptographic exchange house. As a result, various tactics were developed to circumvent these bans. Chinese citizens contacted potential foreign crypt project representatives using the WeChat instant messaging application, known as the "Chinese Whatsapp." After knowing that several companies were involved with chain lockers and cryptographic crops in China, Wechat accounts were blocked by these organizations.

In August last year, sales processes involving cryptococci at shopping centers, hotels and offices were suppressed.

Despite all the prohibitions, the adoption of cryptographic campaigns in China does not stop. The Tech Life magazine announced that its copies can be purchased in Bitcoins next year. Ethereum Hotel was announced, which will accept payments for the ether.

This new announcement from the Chinese central bank shows that the measures taken so far have not been sufficient to curb China's interest in cryptosactivity, despite persistent alerts on alleged fraudulent projects behind ICO.

Featured image from Public_Domain_Fotography / Pixabay

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