China's Crypto Ban Challenged: Underground Market Thrives Despite Regulations

January 21, 2024
China's Crypto Ban Challenged: Underground Market Thrives Despite Regulations
  • An underground market for cryptocurrency trading continues to prosper in China despite the country's ban.

  • Chinese traders are circumventing the regulations using VPNs, social media platforms, and physical meetups.

  • Foreign crypto exchanges are accessed through VPNs while platforms like WeChat and Telegram are used for peer-to-peer trading.

  • Traders are also meeting in public to exchange wallet addresses and drives containing cryptocurrencies.

  • The persistent flourishing of cryptocurrency activities in China questions the effectiveness of enforcement.

Summary based on 0 sources


Get a daily email with more Crypto stories

More Stories