China’s clampdown on the crypto industry is not a new update to the crypto world. At the start of 2018, the Chinese government made a series of moves against cryptocurrency trading including banning both domestic and international trading platforms, and freezing multiple Bitcoin OTC accounts across the country, and lowering incentives for bitcoin mining.Following this, Chinese miners turned to more crypto-friendly markets like Canada due to the increasingly stringent crypto regulations. A number of cryptocurrency exchanges and wallet services have also left the country to set up OTC shops in markets like Hong Kong and Singapore.

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