China may block access to more than 100 overseas crypto trading platforms.

Good evening. I'm Stan Higgins and welcome to late confirmation from CoinDest, bringing you today's top stories.

On today's program, as odd as it may sound, crypto startups were destroying millions of their own tokens to generate value for investors.

Yesterday, the U.S. Securities and Exchange Commission issued disapproval orders for a total of

nine Bitcoin exchange traded fund proposals from three firms.

And lastly, we'll speak with Coin Desk Research Analyst Peter Ryan about some interesting

metrics around the light coin

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It looks like there are more restrictions coming to the crypto space in China.

As first reported yesterday, a Chinese government organization tasked with fighting consumer financial risk has identified 124 trading platforms subject to being blocked.

The platforms have overseas IP addresses, but are still available in the country.

The China National Fintech Risk Rectification Office now plans to step up its efforts in monitoring commercial

use of cryptocurrency and to block access to these trading platforms. The Office's mission is to

protect against financial risk related to issues like peer-to-peer lending and cryptocurrency trading.

The agency is also in talks with third-party payments vendors that are required to scrutinize

and halt accounts suspected

of handling cryptocurrency transactions. Notably, this news followed word that several Chinese

cryptocurrency media outlets have been banned from operating on WeChat.

Some crypto startups are destroying their own tokens.

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