China shutdown cryptotrading but investors still access trading

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China shutdown cryptotrading but investors still access trading

China’s central bank says the buying and selling of bitcoin in RMB has fallen from a peak of 90% of the world’s total to less than 1% since September 2017.

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.

By | 2018-07-11T06:37:33+00:00 July 11th, 2018|Categories: altcoins, blockchain, cryptocurrency, exchanges, fintech, world|Tags: , |Comments Off on China shutdown cryptotrading but investors still access trading

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Brian Wang, MBA and BSc, is a business oriented futurist, speaker and author of emerging and disruptive technologies. Sole author and writer of nextbigfuture.com, a science focused news site that covers disruptive technologies and trends globally in industries including Medicine, Technology, Science, Artificial Intelligence, Robotics, Biotechnology, Nanotechnology, etc. Nextbigfuture is Ranked #1 “Science News Blog” worldwide by Alexa, an Amazon company. Website traffic: 2M page views per month and 4M unique readers annually. Lecturer at Singularity University - provided 4 annual reviews of developments in nanotechnology. Sought after speaker at TEDx (lecture on Energy), University of Toronto (futurism) and Transhuman Visions. Contributor on 10-year plan for the Institute for the Future.