While cryptocurrency trading has long been banned in China, over-the-counter (OTC) trading desks and exchanges have been a popular way for Chinese citizens to acquire cryptocurrencies. Without any KYC requirements, OTC exchanges provide people with a quick and easy way to acquire variou...
The top stories from the Chinese cryptocurrency sphere this past week include: Chinese police cracking down on new types of illegal crimes in telecommunication networks, Alibaba’s blockchain subsidiary to issue tickets for the 2022 Asian games in Hangzhou, almost 2 million people applied for ...
Recently, a USDT OTC merchant from OKEx was investigated by Chinese police as he received black money from a scam. The police found that about 500000 Chinese yuan from a scam flowed into OKEx, then the money was transferred into cryptocurrency through an OTC merchant, which le...
Reports from earlier this month have shown that these “illegal activities” usually meant dealing with cryptocurrencies. Many users reported their funds being blocked after they engaged in OTC trades involving digital assets, with many expecting that the practice of freezing accounts will only...
Cryptocurrency in the official vision of China, it is a legal commodity, the people want to do whatever they want. However, cryptocurrency is naturally favored by criminals. After all, it is easy to circulate (only a few minutes from one end of the earth to the other), good anonymity (full addre...
From Jun. 4 about four thousand bank accounts involved in the money laundering of crypto OTC traders have been frozen by local police in China’s Guangdong province, according to 8btc's previous report. How large is the crypto OTC market? Assuming the daily trading volume of cryptocur...
About four thousand bank accounts involved in money laundry of crypto OTC traders have been frozen by local police from Jun. 4 in China's Guangdong province. The reason for card frozen is that the telecom fraud is being severely investigated by Chinese police recently as OTC trading o...
In recent Chinese cryptocurrency news: Chinese bitcoin miner manufacture Canaan disclosed its 2019 financial results with $148.6 million losses; crypto community is somewhat quiet in face with the big event of the week - BCH halving; multinational companies are seeking blockchain opportunitie...
Binance’s Changpeng Zhao publicly confirmed on Twitter that the exchange accepts fiat through Alipay and WeChat , and stressed it in an official statement. This is obviously too careless for Zhao to announce the issue that triggered Alipay’s ban on all crypto-related transactions. ...
Chinese gamers take Bitcoin as a cross-border payment to buy steam’s gift card. Steam is a video game digital distribution platform providing automatic updates for users’ games. And gift card is a kind of recharge card for users in steam platform. Chinese gamers prefer to buy gift cards...
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