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China to block cryptocurrency platforms that allow centralized trading: Bloomberg

Published 01/15/2018, 07:04 AM
Updated 01/15/2018, 07:10 AM
© Reuters. FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration

BEIJING (Reuters) - Chinese authorities plan to block domestic access to Chinese and offshore cryptocurrency platforms that allow centralized trading, Bloomberg reported Monday citing sources.

Chinese authorities will also target individuals and companies that provide market-making, settlement and clearing services for centralized trading, Bloomberg reported.

Last year, Chinese regulators banned initial coin offerings, shut down local cryptocurrency trading exchanges and limited bitcoin mining - but activity in the cryptocurrency and bitcoin space has continued through alternative channels in China despite the crackdown.

Latest comments

Just to clarify the Bloomberg article: OTC/P2P trading is not banned in China, but match-making services are more similar to a private exchanges. It's those match-making services that are now being targetted in China. It's about unlicensed trading, not about blockchain / tokens.
continued through alternative channels = continued trough GOVERN alternatives.. everything has some govern official involved in china, from wechat, tencent, alibaba, you named it
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