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Bloomberg sources: yes, China really plans to ban cryptocurrency exchanges too

Regulation

The respected Bloomberg media reports that its anonymous sources familiar with governmental matters in China tell that soon there will be a ban of digital currency trading on all exchanges in the country. The rumors come after the last-week decision many cryptocurrency market participants surely considered outrageous – the already well-developed ICO companies had to cease their business activities due to the decision taken by the People’s Bank of China, the main Chinese financial regulator and central bank.

The OTC market, however, will not be banned, the same sources add. In this case, OTC or over-the-counter trading means trading without the help of cryptocurrency exchanges.

We have already seen rumors on Chinese regulations that turned out to be true after the informed source told the local Chinese media on the future ICO ban, so all market participants affiliated with China should seriously consider preparing to this new ban of exchanges. Experts agree that both measures are going to slow down the development of the cryptocurrency market in China, if not beyond.


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