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After the Chinese government banned local bitcoin exchanges from operating in the country some industrious people have begun going abroad to buy the cryptocurrency and reselling it in China for a premium. There are now so many of these ‘bitcoin mules’ that their profit margins are rapidly declining. Also Read: Okex Fights Market Manipulation […]
The post Bitcoin Mules Flood China as OTC Cryptocurrency Trading Flourishes appeared first on Bitcoin News.
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We know you heard this one before, but China wants to ban bitcoin…again. Only this time the government plans to use one of its most far reaching tools, the Great Firewall of China, to completely prevent anyone in the country from reaching foreign exchange sites. Unless they have the technical capability to bypass it, of […]
The post China to Block Access to International Cryptocurrency Exchanges appeared first on Bitcoin News.
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Chinese officials have continued their campaign against cryptocurrency interest in their country with a renewed effort to restrict public access to popular trading methods. Most recently, the People’s Bank of China (PBOC) proposed more stringent limitations that would build on regulations enacted in September of last year. Centralized and Cross-border Trading? Big Brother Says No Way According to an internal memo obtained by Reuters, the Chinese government wants to ban centralized and outsourced cryptocurrency trading, and the PBOC is paving the way for fresh regulations. At a government meeting that included internet regulators and financial policy officials, PBOC Vice Governor Pan GongshengPowered by WPeMatico