State restriction in China benefits Japan and South Korea

Looks like the nominee for the Ministry of SME and Startups in South Korea was absolutely correct when he told that the restrictive cryptocurrency approach always benefits other countries where it does not exist. China, recently banning ICOs on the internal market and toughly restricting cryptocurrency exchange trade, has lost ground in top countries by Bitcoin trade. This was noted by Joseph Young, the journalist focused mostly on the digital currency topic.

Some judicious Chinese market players might have foreseen the restrictions and swiftly moved their operations to Japan, and now, thanks to the actions of Chinese officials, the most popular national currency to be traded in pair with Bitcoin is Japanese yen. The second in the list is the U.S. Dollar. In America, the authorities have taken the regulative approach and monitor every ICO and cryptocurrency company individually instead of banning them all.

Coinhills additionally shows that although the South Korean won is not among the first currencies traded in pair with Bitcoin, its cryptocurrency exchange Bithumb occupied the second place in the volume ranking. So much for state security, China.