China’s State Media Looking at Crypto Trading, ICOs
China’s state wondering about crypto trading and initial coin offerings (ICOs). A few hours ago, at xinhuanet.com an article was published talking about how purchasing cryptocurrency assets through OTC channels is easily available by having reporters register on exchanges such as Huobi Pro and buy bitcoin using accessible payment tools like AliPay.
As reported previously, following the ban on ICO and closure of order-book trading platforms last year, the country’s domestic exchange platforms have shifted to OTC trading and largely moved their businesses. Ministry-level institution under the Chinese central government, notably arrives at a time when Chinese authorities are continuing to signal a desire to tighten rules to curb existing trading activities in the country.
In addition, the report also pointed out crypto-to-crypto trading platforms that are based outside mainland China but available for Chinese investors, alleging that all these actions should be considered attempts to bypass the existing regulations.
“Currently, some ICO projects moved overseas to continue its operation. Although they are officially established and issuing tokens, their project development, key personnels and investors are all based inside mainland China,” the report reads.
Furthermore, it highlighted how some ICOs have shifted their registration