China Escalates Crackdown on Cryptocurrency Trading
- Focus on exchange-like platforms follows uptick in activity
- Regulators around the world are scrutinizing cryptocurrencies
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China is escalating its clampdown on cryptocurrency trading, targeting online platforms and mobile apps that offer exchange-like services, according to people familiar with the matter.
While authorities banned cryptocurrency exchanges last year, they’ve recently noted an uptick in activity on alternative venues. The government plans to block domestic access to homegrown and offshore platforms that enable centralized trading, the people said, without being more specific about how policy makers define such platforms.