In February 2018, the People’s Bank of China (PBOC) issued a statement that it would block access to all domestic and foreign cryptocurrency exchanges and ICO websites.
The People’s Bank of China has now confirmed that it ensured a zero-risk exit for 88 virtual currency exchanges and 85 ICO trading platforms, since September 2017.
BTCC CEO Bobby Lee said that investors in China are still trading cryptocurrencies even after the Chinese government imposed a ban on crypto trading in September 2017.
Chinese investors used over the counter trading, while using social media messengers, bank wires and online payment networks.
China does still encourage blockchain and fintech innovation.