Yesterday, we talked about how traders manage to trade Bitcoin and other altcoins in China – knowing that crypto trading is not allowed in the country. However, despite the use of VPNs and other alternative tools, it seems like China’s exchanges find it more difficult to skirt the ban.
However, according to reports from the South China Morning Post (SCMP), it seems like all of the crypto exchanges that are present in China are changing their domain names in order to escape the blocked access that the country has on all (124) of them.
This move seems to have little to no effect as traders still continue to use virtual private networks (VPNs) tools to access foreign exchanges, and leverage the dollar-pegged stablecoin Tether (USDT) for exchanging the cryptocurrency to fiat currency and vice versa.
Meanwhile, the Chinese government has had a strong stance towards blocking the crypto-related activities in 2017, when Beijing first began the crackdown on the domestic cryptocurrency ecosystem.
According to many analysts and experts, it is definitely difficult to completely block access to crypto trading in an era of technology – and as long as the platform servers remain outside China. However, the regulatory bodies in the country believe that the short-term consequences may result with a decrease in trading interest among the novice cryptocurrency investors.
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