Sneaky bitcoin operations in China soar again, worrying regulators


Source: cvbj.biz cvbj.biz

Key Topics in this News Article:

News Snapshot:

March 1, 2021, 6:30 am 0 share Facebook By Samuel Shen and Andrew Galbraith SHANGHAI, Mar 1 (.) – The 300% rise in the price of bitcoin since October has revived China’s hidden market in cryptocurrency trading, putting regulators on alert about financial risks and tailored capital outflows. which increases volatility. China shut down its local cryptocurrency exchanges in 2017, stifling a speculative market that had accounted for 90% of global bitcoin trade. Investors are now trading bitcoins on platforms owned by Chinese groups that have moved overseas, including Huobi and OKEx. Chinese financial trading chat rooms that were once...