A couple of official announcements in Shanghai and Beijin show a resurgence of regulatory pressure on bitcoin and other cryptocurrencies in China. This Friday, November 22, the office of the People's Bank of China (PBOC) in Sangai, published a notice of updating its rules to restrict cryptocurrencies in that area. A few days earlier, in Beijin, local financial authorities pointed out the illegality of cryptocurrency exchange operations.

According to the information, the authorities of the Shanghai PBOC, a municipality considered the main commercial and financial center of China, maintain that they have evidenced the resurgence of cryptocurrency-related operations. In response, they decided to take stronger measures to "strengthen regulation and control, reduce cryptocurrency trade."

Among several open threads on Twitter, and news seen in Chinese, its intention is to end the markets that operate as a main exchange house in China illegally, it is illegally understood when the servers operate abroad and not in the country , on the other hand they are also eliminating the access routes and closing with large fines to these possible exchange houses. On the other hand, they have announced restricting cryptocurrency mining in the interior country of China, a measure that would be applied to solve less competencies in digital assets as if it were a kind of mass dictatorship.

On the other hand, it also seeks to create its own digital asset that competes with the announced social network Facebook, La Libra.

What is currently happening through the strict measures they have announced and taken in action, is that their fundamental intention is not to reduce the value of the Bitcoin Cryptocurrency that has been a decade in the global market but to make it disappear, for them they are the pioneers In the Blockchain world, as we well know, a rivalry of financial statements between the United States and China is known.

They keep the motto "Blockchain yes, Bitcoin No", therefore to legalize a exchange house in China that can operate in the world Blockchain must give up the famous Bitcoin between its operations and its commercial system.