Published on September 15th, 2017 | by bitcoin0
Mass Migration of Bitcoin Traders Caused by Chinese Drama
Chinese regulatory bans are causing mass exoduses – from WeChat to Telegram, exchanges to LocalBitcoins and maybe soon China to Hong Kong.
As news comes that a full Bitcoin-to-fiat exchange ban may come into effect Sept. 30, China’s crypto users and businesses are feeling the heat.
Hong Kong the winner
Already, Hong Kong based exchange platform Gatecoin CEO Aurelien Menant says, requests for listings from mainland entities are up sharply.
Frantic international reactions to price volatility are meanwhile bringing big rewards to certain industry sectors such as p2p trading platform LocalBitcoins.
Cointelegraph has already reported on the increasing returns of Chinese users since fears of an exchange ban first appeared.