Crypto Escapes Scrutiny on China’s annual consumer protection television show

The cryptocurrencies were not criticized at an annual Chinese consumer protection event, despite rumors.

 Several sources had shared rumors in early March that major policy changes would be announced on the evening of March 15 during a national television program to curb cryptocurrency activities in China, such as trade and initial offers of disguised currency. (ICO).

The annual show is organized by China Central Television, the country’s official broadcasting spokesperson, in celebration of World Consumer Rights Day, during which the company’s questionable conduct is exposed for the sake of public safety.

In addition, it is jointly organized by major Chinese government agencies, including the Ministry of Industry and Information Technology, the Ministry of Public Security, the Supreme People’s Court and the Supreme People’s Procuratorate.

Rumors suggested that the program would expose the initial offers of currencies that still exist in China, some of which could operate so that certain people with access to ICO act as agents to invest on behalf of other Chinese investors.

“Everyone was waiting to see what would happen during the night,” said a source.

In fact, the rumors seemed to have generated uncertainty within the cryptocurrency community in China, which had already started circulating a list of tests leaked from the program before the event, in an attempt to spread the security that there was no discussion of the ICOs on the list.

In the event, the absence of cryptocurrencies or issues related to ICO quickly killed the additional crypto conversation for the time being, however, it remains to be seen if China will decide to apply other regulatory measures on cryptocurrency activities, following its existing monitoring efforts.

As previously reported, while China’s police force has been expanding its Internet monitoring work to cover cryptocurrency activities abroad, regulators have also acted to block the national accounts of cryptocurrency exchanges on social media channels.