China: 5 Crypto Exchanges Halt or Shut Services Amid Perceived Crackdown
Marie Huillet's original article for cointelegraph.com reduced by 42%
At least five Chinese cryptocurrency exchanges have halted or chosen to terminate operations this month in response to a perceived redoubling of Beijing's anti-crypto stance. Exchange operator Bitsoda informed the public on Nov. 23 of its decision to terminate services; Akdex followed suit, announcing its decision to shut down on Nov.
24. With explicit reference to government policy, Btuex revealed on Nov. 25 that it would halt services immediately and reopen in the future for an overseas-only clientele.
On Nov. 4, crypto exchange Biss had announced it was "Actively cooperating" with investigations into its operations and planned to resume services as soon as possible. Citing data from blockchain intelligence firm Chainalysis, Bloomberg's report notes that 20 of the top 50 global crypto exchanges are based in the Asia-Pacific region, accounting for an estimated 40% of Bitcoin transactions in the first half of 2019.
Within Asia-Pacific, Chainalysis' data indicates that the lion's share of exchanges are based in China. As Cointelegraph reported, crypto exchange IDAX has today suspended deposits and withdrawals generally after its CEO allegedly disappeared.
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Summarised crypto news.