Bitcoin, Cryptocurrency, News

Financial authority monitors Bitcoin online transactions in China

According to the news from  CCTV’s Economic Information Report” on May 23, the National Internet Financial Risk Analysis Technology Platform has achieved over-the-counter transaction monitoring, MLM currency monitoring, bitcoin transaction tracking, bitcoin offline distribution, bitcoin cross-border monitoring, and token issuance monitoring. Among over-the-counter transaction monitoring shows user IDs and payment methods, it is reported that nearly one-third of off-board transactions are conducted by using Alipay.


China has banned all ICOs, bitcoin and other virtual currency tradings,  Chinese banks are ordered to closely monitor consumer money transfers and any unusual activities, even offshore trading of Bitcoins and virtual currencies are not allowed. However, strict executive orders from the government have not prevented Chinese investors from tradings and investing.

Leave a Reply