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Chinese users are currently unable to search popular cryptocurrency exchanges like Binance, OKEx and Huobi on popular Chinese internet services amid reports of possible censorship.
By Ye Xie and Kean ZhangBloomberg
Chinese users are currently unable to search for popular crypto exchanges on the country’s internet services amid reports of possible censorship.
Keyword searches for online trading platforms such as Binance, OKEx, and Huobi on popular internet services such as Baidu, Sogo, Zhihu, or Weibo do not return any results. Other media, including CoinDesk, first reported the possible blockage.
The Chinese government recently renewed a regulatory crackdown on crypto mining and trading, helping to drop Bitcoin by about 45% since its peak in April.
The exchanges that appear to be affected are among the largest in the digital asset world, with users based in Asia among the first to adopt them. Binance is the world’s largest crypto platform, with a trading volume of $ 30 billion in the past 24 hours, according to CoinMarketCap.com, a site owned by Binance.
The Chinese government has tightened its cryptocurrency regulations since 2017 in an effort to control capital outflows and avoid speculative bubbles. Chinese Bitcoin investors earned $ 1.1 billion in gains made last year, and were only second of those gains by those in the United States, data tracker Chainalysis said in a recent report.
(Add stock exchange trading volume in the last paragraph.)
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