China’s Cryptocurrency Industry is far away from dead

On the 4th of September, China order ICOs to cease.

More than 15 exchanges announced they will closed by the end of the month, thus bitcoins are purchased and being sold through messenger, peer to peer marketplaces or by traders with each other with the price of Bitcoin in China now trading at a discount to overseas exchanges.

Industry is almost impossible to be controlled by Chinese regulators as most of the users are anonymous, consequently they are difficult to truck.

Chinese bitcoin investors, who denied disclosing their personal details, say there is no way to intervene, tend is inevitable.

As result China Trading volumes more than doubled in the week starting from 16.09.2017.

 


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