Despite the ban imposed on Bitcoin trading by the Chinese government, internet users in the country are increasingly trading the cryptocurrency using backstairs like peer-to-peer exchanges. On P2P platforms buyers are directly linked to the sellers as compared to conventional exchanges with centralized control or intermediary service.
According to the report from the South China Morning Post, government in China has noticed this activity and the National Committee of Experts on Internet Financial Security provided a comment, noting that trading cryptocurrencies over the counter is in full bloom and it means that authorities will be making more efforts to surveil the citizens.
Matthew Graham, chief executive at Sino Global Capital, a technology advisory company based in Beijing, notes that following the period of some caution in the wake of the measures taken by the Chinese government, citizens are again open for taking part in cryptocurrency trading with the number of market participants expected to grow further.
Read further here...Well, just as what I and many of us have been suspecting. I am aware that many Chinese are really so interested wot work and do business with cryptocurrency yet the problem is that their government will never allow something which it can never control and this can be the reason why censorship is still being down by the authorities. And since Chinese are known to be creative and entrepreneurial, they can find ways and means to circumvent the orders from the government not to get involved with cryptocurrency. Hopefully, the government will soon realize that they are not actually siding with the people here and that eventually a new generation of leaders will rise up that can be more friendly to cryptocurrency. May that day comes fast.
