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Cryptocurrency Exchanges not Regulated in China

Cryptocurrency Exchanges not Regulated in China

On Oct. 30, a crypto analyst claimed that a photograph of a cryptocurrency trading license issued by the Chinese government has leaked, indicating that crypto exchanges are allowed to operate within China.

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However, Zhao and other investors based in China including Primitive Crypto founder Dovey Wan said that it is a basic generic business license containing the phrase “trading services” and that it does not represent a crypto trading license for local companies.

Major crypto markets in Asia and Africa in the likes of Nigeria, Uganda, Japan and South Korea have also started to adopt clearer regulatory frameworks to govern cryptocurrency and blockchain, paving a pathway for long term growth for startups.

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