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China Is Gunning for Foreign Crypto Trading Platforms

China Is Gunning for Foreign Crypto Trading Platforms

China’s financial regulators are going to ban more than 100 foreign crypto exchanges that offer trading services to local investors.

Hunting Down Crypto Exchanges

Providing details, Shanghai Securities Times reported that the China National Fintech Risk Rectification Office has so far detected 124 trading platforms with foreign IP addresses, yet that are accessible in the country. The office intends to keep monitoring the space and

The National Fintech Risk Rectification Office is a government organization aiming to fight against money related risks like peer-to-peer loaning and cryptocurrency exchanging.

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Bitfinex Holding the Line to Defend Against Rumors

Bitfinex Holding the Line to Defend Against Rumors

Cryptocurrency exchange Bitfinex has been accused of being insolvent in a series of articles on Medium. In Sunday’s blog post, the company denied the rumors by providing counter-arguments.   

It’s All Good

Bitfinex stated that it is not insolvent, and “as one of only a very few exchanges operating since 2013, with a small team and low operating costs,” they do not understand the accusation, which, in their opinion, is unfounded. 

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