BEIJING: China is stepping up its clampdown on cryptocurrency trading, and is now targeting online platforms and mobile apps that offer exchange-like services, Bloomberg reports, citing people familiar with the matter.
Authorities said alternative venues have cropped up since it banned the trading of bitcoin and other virtual currencies last year. They now want to block domestic access to homegrown and offshore platforms that enable centralized trading, the report said, although no specific guidelines have been issued. According to sources, authorities will target individuals and companies that provide market-making, settlement and clearing services for centralized trading.
Aside from the Chinese government, other regulators around the world want to curb cryptocurrency trading amid concerns over excessive speculation, money laundering and tax evasion.
