The latest development in China’s Crypto Crackdown saw the Chinese international communication office delist Block Eye, the popular Chinese Crypto App. The Shanghai Municipal Administration of Communications announced that all app stores must remove “Block Eye”, after a notice from the People’s Bank of China (PBoC).
The rectification of virtual currencies continues in China. The Shanghai Municipal Administration of Communications requires all app stores to remove the “Block Eye” (区块天眼)app. pic.twitter.com/s7rltrktzq
— 8BTCnews (@btcinchina) September 6, 2021
Crypto App Banned upon issuance of tokens
Shanghai Municipal Office revealed that the Central Bank highlighted Block Eye’s violation of the nation’s crypto crackdown regulations. It stated that the app facilitates intermediary information for virtual currency transactions. Furthermore, it publicizes crypto transactions by conducting commercial displays, along with marketing for virtual currency-based busines
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