Shanghai police targeting crypto

Shanghai police has released today November 22, 2019 a news about targeting crypto projects. This comes after the raid of a Binance office in Shanghai. Meanwhile the CEO of Binance, has denied that the office belonged to them. This is an usual strategy with exchanges operating in China to have some local company take care of customer service; these companies have only one client, but legally do not belong to the mother company.

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Later today, the SHanghai police released an notice that it would especially target ICO, IFO, IEO, IMO, i-whatver-O and any other kind of token offering, since this is a clearly illegal activity in China. Recent praise of blockchain technology has spurred a renewed frenzy from mostly scams and ponzis taking the Chinese Chairman words for an opportunity to sell coins.

Blockchain in China tends to be more about centralization and surveillance, tracking transfers rather than decentralization and anonimity.

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