The office of a start-GFChain has been closed down by the Chinese authorities. GXChain the hoogtent of course, with a market capitalization of $600 million. At the time of this writing, there is still a $48 million will be left.
Journalist, Airlines Wan to ask her out-loud wondering: what does the Chinese government not to look at the other ICO programs.
This is the case, the high-profile by 2017, ICO project, GXChain $GXC just got clamped down by the Chinese police
GXChain it was a very hot ICON back in the days with the ATH market cap is about $600M (as of now, still holds $48M), and considered to be among the very few legit ICOs … pic.twitter.com/6uUPBx8og9
— Airlines And Wan 🗝 🦖 (@DoveyWan) On September 11, 2019
Wan to think that the business model of the company’s GXChain is the reason for the sudden closure. It’s a company that sells financial data. For example, the credit rating of a person.
Wan on Twitter:
“I don’t have a clue as to why the police action started at GXChain, instead of the tens of thousands of Chinese scams. For GXChain have a real business behind it. The trigger may be the information that they provide here.”
The latter is a key issue in China at the moment, the government does have a score. If you are not good with the Chinese government, then you get special privileges denied to them.
In China, it is a different story in the field of bitcoin and other cryptomunten. On the one hand, the government uses a strict policy, it may not be just the money out of the country over. There has been bitcoin in the state. However, the holding, and to personally act in bitcoin, it is not illegal.
The People’s Bank of China gave a clear explanation of bitcoin to the general public.
But at the same time, is a lot of hashpower on the network of the bitcoin is made in China. The miners are earning good money, but there’s also insecurity: miners choose to vote with their money and are their operations set up in Russia.
In addition, the central bank of China is well on its way to its own cryptomunt out of it.
In short: there are bubbles or something in China in the field of cryptovaluta. On the one hand, the government seems to be slowly getting more and more of ICO’s from end to end, and, on the other hand, looks at the country of bitcoin, and its own cryptomunt.
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