Cryptocurrency exchanges across China halt services amid crackdown
At least five local exchanges have halted operations or announced they will no longer serve domestic users this month after regulators issued a series of warnings and notices as part of a cleanup of digital currency trading. China is stepping up scrutiny of its massive cryptocurrency industry just weeks after President Xi Jinping ignited a market frenzy by declaring Beijing’s support for the blockchain technology that underpins the sector.
“The current situation and environment for blockchain in China is still very positive,” Tron founder and cryptocurrency entrepreneur Justin Sun said. “In the short term, it may not get as much progress as we’d expect.”