Media: Chinese investors have not abandoned Bitcoin after tougher regulation

Chinese investors have not abandoned cryptocurrencies, despite tighter regulation and the exit of two major platforms—Binance and Huobi—from the country. пишет South China Morning Post (SCMP).

Anonymous investors interviewed by the publication said that some cryptocurrency holders intend to continue trading, using VPNs, foreign mailing services without identification systems, and less centralized exchanges.

According to one of the interviewees, investors may switch to decentralized trading platforms. But in this case, the risks of account hacks and loss of funds remain, he noted.

Earlier, Beijing sharply intensified pressure on the cryptocurrency industry. In this context, media reported that more than two dozen digital-asset-related companies announced their withdrawal from the Chinese market.

In June 2021, Huobi closed off access to trading crypto derivatives for Chinese and British investors.

In September, the platform ceased registering new users. A similar decision was taken by exchanges Huobi, KuCoin, BitMart and Biki, as well as Binance.

Later, the latter announced that as of December 31 it would remove the Chinese yuan from the list of over-the-counter markets and close access to OTC trading for users from mainland China.

Earlier, authorities were examining the possibility of prosecuting crypto trading and mining.

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