The Chinese authorities have continued to tighten the loopholes with regards to where the country’s citizens can access cryptocurrencies as well as any information with regards to trading and/or mining them. Back in mid August, the government through the Cyberspace Administration of China in collaboration with Tencent – the creator and owner of WeChat – issued a statement on the matter. The major reason for cracking down on crypto related activities and accounts on the messaging platform, was that it was in tandem with the government’s orders to ban crypto trading and all ICO activities in the country that might harm the financial well being of its citizens.
Crypto exchanges and traders in the country have since found other ways to circumvent the continual scrutiny and restricted internet access to foreign based crypto exchanges. One method local exchanges have used, is to transfer their business operations outside the reach of the Chinese borders and jurisdictions. On the other hand, individual crypto traders have been using VPNs (Virtual Private Networks) to access foreign exchanges that have been banned by the government.