As observed around the world, the love of bitcoin is ever increasing, and several countries are keying into this “beautiful madness’; investing in bitcoin ever-growing market. Some other countries that have been adamant on approving the use of this digital currency, or had issues with its control, are currently showing another body language to their stance. However, still, has their eyes on any sign for fraudulent activities around the trading of the currency.
One of such country is China, which is known for their zero tolerance on fraudulent bitcoin exchange or commerce. The news making headlines is this new stance, though it was said passively.
China Hints at Licensing Bitcoin Exchanges with complete ‘Zero Tolerance’ on Cryptocurrency Related Frauds
China is currently giving hints at licensing Bitcoin exchanges but would hold on to their Zero Tolerance on cryptocurrency crimes. These became a limelight information via a statement issued by the press agency of China, condemning the act of using Cryptocurrency for criminal activities. The organization portrays the point that they would stand against the usage of cryptocurrency criminally so that they can effectively regulate it, and stop any crime. The regulations which were proposed hint at the fact that there is hope for the future license for bitcoin exchanges.
The statement issued and published by the Xinhua News Agency called for the regulators to take a full stand against cryptocurrency-related crime.
How this would play out is not yet known as China has been known to have blocked initial coin offerings (ICOs). However, the fact that many Chinese cryptocurrency users would try to use platforms that are located in neighboring countries like Japan, or any other places have given a hint that vacuum should be given attention. We keep оur fіngеrѕ сrоѕѕеd tо ѕее how thіѕ