6 months ago
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China has been cracking down on cryptocurrency for years. From banning Bitcoin mining to outlawing crypto exchanges, Beijing has tried to wipe out digital assets from its financial system. Yet, despite these restrictions, underground crypto trading in China is booming — operating in the shadows, growing stronger, and becoming more sophisticated.
Reports suggest that China still plays a major role in global crypto activity, with illicit brokers facilitating billions of dollars in transactions behind closed doors. But how is this underground market thriving? Who are the players involved? And what does it mean for the future of crypto? Let’s dive in.
China’s relationship with cryptocurrency has been complicated. Here’s a quick timeline of major events:
English (US) ·