Chinese traders turn to OTC desks amid regulatory crackdown

Chinese traders turn to OTC desks amid regulatory crackdown

Threats from China’s central government appear to have done little to quash local demand for crypto assets. As Beijing attempts to regulate and suppress the cryptocurrency boom, traders have been evading regulatory oversight by using over-the-counter, or OTC trading desks.According to a May 31 report 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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