Chinese Nationals are buying up Cryptocurrency?
Steps to buying large sums of crypto to protect your wealth. What does this mean for Chinese investors like you and me?
China has reportedly has also shut down the ICO market as well. Now if you a national and you want to buy Bitcoins, buy Litecoins, buy Ether or other cryptocurrency, you will have to look elsewhere. If you are a start up company that utilize the blockchain technology and you were looking for funding via ICO’s then you won’t be able to do that as well directly from china, unless you want to face heavy fines and punishments.
Walls Street Journal:
“Regulators in China have been investigating the domestic market for bitcoin and other virtual currencies since the beginning of the year. For a while, officials considered enacting anti money-laundering rules on exchanges, even circulating a draft of such rules for them to follow”.
China has shut down ALL domestic bitcoin and crypto exchanges.
BTC China, OKCoin and Huobi which are the 3 largest exchanges in that region all had to move their business outside of China in order to function.
Chinese regulators cited concerns about money laundering as well illicit activity as reasons for them shutting down the cryptocurrency market in China. The one problem with that notion is that cryptocurrency is a decentralized currency and people will find a way to purchase regardless.
So if you are in China or elsewhere and you want to buy bitcoin or other crypto then Click HERE!