The number of Bitcoin trading operations in the Chinese currency has fallen from a peak of more than 90% to less than 1 % of the world’s total.
China’s Central bank officially sets upon regulation of all crypto-related activities and businesses introducing new frameworks aimed to crack down on all aspects and services of Bitcoin trading in both Mainland China and Hong Kong.
China will likely resume cryptocurrency trading after licensing exchanges as measures for cryptocurrency market regulation.
Taiwan’s authorities refuse to follow the examples of China and South Korea in banning ICOs and join Japan in its bitcoin-friendly approach.
The value of the digital currency continues its upward trend, despite Chinese crackdown on virtual money and uncertainty regarding SegWit2x activation.
According to project founders, the initiative will help to bring greater transparency and accountability for funds raised via initial coin offerings.
South Korean Financial Supervisory Service follows the recent move of China announcing ban of initial coin offerings.
It seems, that bitcoin finally gains momentum after the succession of equally infamous and disturbing news about China’s decision to ban ICOs and shut down all bitcoin trading.
While Chinese regulators are moving closer to shutting down bitcoin trading in the country, traders seem to have a way to work around.
Bitcoin is trading below $4,000 as the tightening regulation and negative comments from industry leaders keep investors worried about the cryptocurrency’s future.