State news Agency of China is targeting foreign ICO and OTC trading

The state news Agency of China Xinhua the beginning of the attack on OTC-free crypto-currency trading and foreign ICO, calling their use an attempt to circumvent domestic regulation in the country.

In a message posted
12 Feb news Agency Xinhua in detail about how to buy cryptocurrency assets through OTC channels. To do this, the reporters of the Agency had registered on the exchange Huobi Pro and bought bitcoin using the available payment tools such as AliPay.

As previously reported, after the ban
for holding ICO and closing of cryptocurrency exchanges in the past year, Chinese exchanges have switched to OTC trading and mostly moved their companies abroad.

Citing a report published
Chinese security Commission Internet Finance, the news Agency said that as of November last year, more than 20 OTC exchanges continued their work from abroad, mainly from Hong Kong, Japan and the United States.

Xinhua also notes that the cryptocurrency trading platform who are based outside of China that are still available to Chinese investors. The Agency claims that all these actions should be seen as attempts to circumvent existing regulation. In addition, the article emphasizes that many Chinese ICO just started to register outside the country.

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