Crypto Prices Mixed; China Steps Up Pressure on Domestic Crypto Activities By Investing.com



Cryptocurrency prices were mixed on Tuesday

Investing.com – Cryptocurrency prices were mixed on Tuesday as China has reportedly stepped up their effort on domestic crypto activities.

Bitcoin () edged up 0.7% to $7,272.0 at 12:55AM ET (04:55 GMT) on the Bitifinex exchange, and  fell 1.3% to $285.97. 

Meanwhile,  traded at $0.33360, down by 0.5% in the last 24 hours on the Poloniex exchange, while  was up 2.6% to $66.560. 

CNBC reported on Monday that China is still trying to limit speculation on digital currencies. Chinese authorities issued warnings in August on risks connected to illegal fundraising activities under the form of cryptocurrencies.

Ealier reports said the Chinese government banned all crypto-promotion activities in Guangzhou in August. The news came after China-based multinational technology giant Baidu was told to shut down crypto-related online chat rooms earlier in the same month.

Major social media platform WeChat blocked several crypto and blockchain-related accounts in August, while internet giant Tencent announced it no longer allowed crypto trading on its platform. E-commerce firm Alibaba (NYSE:) also said it would restrict or ban accounts that engage in crypto trading.

However, the Chinese government remained supportive on the development of the underlying blockchain technology, as it invested about $3.6 billion in the technology since 2016, according to CNBC which cited estimates published last week.

In other news, Japan’s Financial Services Agency is introducing stricter registration rules for cryptocurrency exchanges, The Japan Times reported on Sunday. The rules are being introduced “to see whether they [crypto exchanges] are properly conducting risk management.” The changes include more application questions, minutes of board meetings, and reviews of the companies shareholders.

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