A chance for Chinese to trade in Bitcoin again
A chance for people in China to trade in Bitcoin once again after imposed ban
The most prominent conference in Republic of China concluded on 24th of October. This was the 19th National Congress, held by the Communist Party of China every year. There were lot of important decisions taken in this congress. These include decisions to amend and remove several policies and regulations. The eyes of the cryptocurrency community look towards the Chinese government, with the decision of shutting down Bitcoin trade within China.
Meanwhile on 28th of October, ZB.com introduced their new platform for cryptocurrency trade. The platform went live on 1st of November allowing users to sign up and make their deposits.
The relationship with this platform to our story is that the platform claims people in China can also use this platform. The platform allows people from the Republic of China as well to use their trade and exchange services. The website comes in two languages; English and Chinese. This does not mean regulation bans imposed on cryptocurrencies like Bitcoin is invalid. There is a chance the government in China will close this platform as well. Some claims that the Chinese government might be running the platform.
Offline trade for Chinese people
The platform will be popular as long as the Chinese traders can exchange Bitcoins through it. Since the shutting down of other bitcoin platforms in China, people have been looking at alternatives. Some are using Taobao, a site identical to eBay, popular in China. There are other similar sites that the Chinese people have started using with the intention of offline trade. Since the ban, offline trade is becoming more and more popular among Chinese traders that deal with Bitcoins.
There can be other ways people in China could trade in bitcoins and other cryptocurrencies. However, the world waits to see what new platforms will rise to help China.