News Snapshot:
Cryptocurrency over-the-counter (OTC) merchants in China have an existential challenge ahead. The central bank of China, the People’s Bank of China, is blacklisting the accounts of OTC traders in the region in its recent crackdown efforts. The blacklisted merchants will not be able to carry out online transactions for at least five years. Many such large crypto traders are allegedly closing their businesses to avoid dealing with the imminent restrictions. This was reported by local media outlet WuBlockchain . PBoC Backs Local OTC Dealers Into A Corner Since the start of this year, China’s central bank has been cracking down...
