Companies in China have been wary of cryptocurrencies. That situation won’t necessarily change following some new guidelines coming out of Beijing.
It has been a while since some “China bans bitcoin” FUD made headlines.
MORE BITCOIN TRADING FUD FROM CHINA
For reasons unknown, such news tends to come around at least once a year.
This year’s edition seems to focus on companies looking to engage in the crypto asset industry.
Beijing authorities claim no companies should engage in trading cryptocurrencies or providing other custodial services.
While this is not an official guideline, the “request” does send a very clear message.
It is a well-known fact that crypto trading in China has been “outlawed” for some time now.
As such, it seems interesting to note that some companies are still trying to break ground in this department.
However, following this news warning, it seems unlikely that much will happen.
The recent increase in crypto asset trading hasn’t gone by unnoticed, but there are other solutions available as well.
Those who want to trade bitcoin can still do so outside of the control of the Chinese government.
Cryptocurrencies are unique in this regard, as they can circumvent artificial blockades with relative ease.
China will not be an exception in this regard.