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Beijing really wants to kick bitcoin out of china

Chinese authorities are attempting to completely block citizens from buying and trading cryptocurrencies, Bloomberg reported Monday.

Until early last year China was the global hub for bitcoin trading and mining, however Beijing has recently sought to limit its economy’s exposure to digital currencies, banning initial coin offeringsshutting down local exchanges and mulling a ban on bitcoin miningoperations.

According to Bloomberg sources, the government will block domestic access to homegrown and offshore services that enable centralized trading, though it remains unclear how authorities will define such platforms.

Online platforms and mobile apps offer exchange-like services that allow Chinese citizens to circumvent a ban already in place against local exchanges.

The new policies will also target individuals and companies who provide access to market-making, settlement and clearing services for centralized trading.

Chinese authorities are attempting to completely block citizens from buying and trading cryptocurrencies, Bloomberg reported Monday.

Until early last year China was the global hub for bitcoin trading and mining, however Beijing has recently sought to limit its economy’s exposure to digital currencies, banning initial coin offerings, shutting down local exchanges and mulling a ban on bitcoin mining operations.

According to Bloomberg sources, the government will block domestic access to homegrown and offshore services that enable centralized trading, though it remains unclear how authorities will define such platforms…

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