RATE Group | Cryptocurrency traders in China find ways to get around state regulators despite tighter…
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Cryptocurrency traders in China find ways to get around state regulators despite tighter…

08 Sep Cryptocurrency traders in China find ways to get around state regulators despite tighter…

Posted at 06:55h in Cryptocurrency News by

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Industry observers are certain that Chinese investors will always find ways to circumvent increasingly tightening controls over cryptocurrency trading by mainland authorities, making it practically impossible to ever impose a complete shutdown on trading.

The Shanghai Securities Times, a newspaper affiliated with the country’s financial and markets regulators, on August 23 reported that the authorities are stepping up their monitoring by blocking access to 124 offshore crypto-exchanges that provide trading services to Chinese investors.

Despite multiple attempts by Beijing to shut down all local exchange platforms since September 2017, cryptocurrency trading had continued to prosper, with many Chinese exchanges attempting to skirt the ban by reincarnating themselves under different domain names.

As bitcoin tumbles, traders look for futures and derivatives to hedge bets

By moving their servers outside China and registering their legal entities offshore, competition among…

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