According to the statement of the people’s Bank of China, the share of trade bitcoins in tandem with the Chinese national currency has fallen below 1%. Also about a year ago, the dominance of the yuan was unchallenged and his cut was at 90%.
However, in September 2017, the Chinese authorities, saying the risks of the rapidly growing market for digital assets, banned the cryptocurrency trading and financing with the initial placement of tokens (ICO). NBK said that last year he was able to eliminate the risks associated with cryptocurrency exchanges 88 and 85 platforms, trading tokens ICO.
«Timely action by the controller was able to prevent sudden rises and fall in the value of cryptocurrencies and, in fact, set the tone for regulators at the world level», — the analyst of the Chinese media Xinhua.
Anyway, but imposed prohibitions has forced local cryptocurrency exchanges, including the largest of them, such as Huobi, OKCoin and Binance, to leave China more loyal to the cryptocurrency industry jurisdiction. Subsequently, many of these platforms have opened representative offices in Japan, Hong Kong, South Korea, Singapore and the USA, which allowed them to continue and even significantly expand the user base and increase trading volumes.
Once a major Chinese cryptocurrency exchanges are now coming to the markets of Europe and even Australia. Despite the fact that recently Huiobi was forced to temporarily withdraw
from the service of the citizens of Japan due to the fact that did not register in the FSA, the company intends
to open an office in London and thereby to gain a foothold in the European market.
Hong Kong OKEx, who grew up from China OK Coin, announced
plans to expand its activities in Malta, where earlier the account was opened
cryptocurrency exchange Binance, including in order to start the trade in Uganda.