Chinese users unable to search for foreign crypto exchanges

2
1 minute
Chinese users unable to search for foreign crypto exchanges

Chinese users are currently unable to look up online for foreign crypto exchanges, amid reports of possible censorship.

Keyword searches for popular trading platforms including Binance, OKEx and Huobi on online services like Baidu, Sogo, Zhihu or Weibo are not promising a result. Other media outlets including CoinDesk reported the possible blockage first. The Chinese government has recently renewed a regulatory crackdown on crypto mining and trading, helping Bitcoin drop about 45% since its peak in April.

The exchanges that appear to be impacted are some of the largest in the Asia-based world of digital assets, with emerging users being among the biggest adopters. Binance is the world's largest crypto platform, with $30 billion in trading volumes in the last 24 hours according to Binance, a site owned by CoinMarketCap.com.

Since 2017 The Chinese government has tightened its cryptocurrency rules in an effort to prevent capital outflows and control speculative bubbles. Last year, Chinese investors realized $1.1 billion in gains and were only second in those gains by the Chinese data tracker Chainalysis in a recent report.

More stories like this are available on Bloomberg.com.

  • Comments
Loading comments...