China crypto platforms snap their fingers at Beijing ban – media

Posted 08 May, 2018

China's media Voice of China has released reports citing that crypto exchanges and ICO providers keep dealing with cryptocurrencies despite the governmental ban in 2017, as reported Bitcoin Insider.

According to the news report, cryptocurrency companies want to get financial benefits making use of increasing bitcoin prices despite the official restriction and for that purpose organize cooperation of fiats and digital coins.

"Platforms immediately set up overseas websites and continue to provide digital currency services to mainland users as overseas companies," the statement reads.

OKEx platform got strong attention. It is accused in darkening transaction history via front companies as well as offering unlicensed securities. 

"After the national ban was issued, OKCoin transferred all user data and digital currency to the OKEx Exchange, which was established outside China," commented Voice of China in its report.

Moreover, many Chinese ICO projects also were in the crosshairs, which "operating in clear defiance of the central government’s directives. "

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