Chinese traders turn to OTC desks amid regulatory crackdown
Cointelegraph
Published May 31, 2021 01:16AM ET
Updated Jun 01, 2021 03:20AM ET
As Beijing attempts to regulate and suppress the cryptocurrency boom, traders have been evading regulatory oversight by using over-the-counter trading desks.
According to a report on Monday published by Bloomberg, there has been a significant uptick in OTC platform usage since China announced its latest crackdown earlier this month, with China tightening restrictions prohibiting financial institutions and payment companies from providing services related to cryptocurrencies.
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Written By: Cointelegraph
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