The Chinese Government has began censoring Chinese crypto chat groups and messenger services in order to find bad actors and illegal activity within China. China recently banned ICO’s and local exchanges from conducting any activity regarding cryptocurrency. We have discussed the recent bans with an owner of a trading platform who plans to take his business nearby to Japan. We will continue to see lots of Chinese bitcoin mining farms move to neighboring countries in Southeast Asia, where bitcoin mining is legal.
We expect to hear more regulations on cryptocurrency to be released from China in the coming weeks. Stay tuned for more updates!