The authorities, who launched an investigation against some Blockchain companies in China, announced that most of the companies did not fulfill their activities, and therefore the companies will continue to be investigated and certain closure penalties or different fines may be imposed depending on the result. Authorities are concerned that chain technology companies in the country will be subject to audit and in case of a possible unexpected result in the audits, except for companies operating under the name of Blockchain company, a large part of companies that seem to operate in this sector but do not operate may be closed.
The Chinese government is known for its tough attitude
The Chinese government is a government known for its tough stance on cryptocurrencies, Blockchain technology and many other issues that affect its citizens economically, and this aspect attracts the reaction of the citizens of the country. The government, on the other hand, maintains as a tradition that citizens are kept in check and that this is essential for companies and citizens to have strong economic bases. Every new incoming president takes office promising citizens that he will further strengthen China economically.