Chinese regulators are reportedly gearing to scrutinize domestic cryptocurrency traders further by threatening to have their assets frozen.
In what could cement China’s final crackdown on cryptocurrencies, regulators are targeting domestic investors who continue to partake in crypto trading via offshore cryptocurrency platforms, Bloomberg reports. Citing discreet sources, the report claims that authorities could scrutinize bank and online-payment accounts belonging to individuals and businesses who have circumvented China’s ban on domestic crypto exchanges by tapping into overseas exchanges.
The report added:
“The accounts’ owners could have their assets frozen or be blocked from the domestic financial system.”
The reported move comes within weeks of a report by a newspaper run by China’s central bank that called for an effective ban and blockade of foreign cryptocurrency exchange websites to keep investors from participating in trading and ICOs.
https://www.ccn.com/china-targets-domestic-crypto-investors-trading-overseas-platforms-report/
