China\'s public security ministry has revealed they are investigating pyramid schemes including those that involve cryptocurrencies.

The country’s officials have said that they will clamp down on any scams that encourage users to trade a product while requesting other users to form sales themselves such as OneCoin, which is being investigated internationally as it is suspected of being a cryptocurrency pyramid scheme.

The announced move comes shortly after China was blamed for the plummeting Bitcoin prices after the government proposed tighter regulations on cryptocurrencies. The ministry also explained that officials would now be focusing their time and efforts on demolishing any pyramid schemes within the country and punishing any members. The aim is to create further legislation which will protect the interests and rights of the public.

While it isn’t clear whether officials will focus on schemes involving cryptocurrencies more than other pyramid schemes, it is thought that officials will examine cryptocurrency pyramid schemes. Gemcoin, a past scam, caused thousands of citizens in China to be tricked out of cash and OneCoin is also believed to have operated in the country.

Despite the latest news, it is still not known whether China will push tougher laws towards cryptocurrencies and pyramid schemes. The country has previously banned ICOs, calling it an unlawful method of raising funds.