- May 26, 2014
The Chinese government has continued its crackdown on cryptocurrency trading, including peer-to-peer trading and possibly mining, which will test the limits of decentralization.
Over the past few weeks, a series of events stemming from regulation in China caused the cryptocurrency markets to go on a wild ride. First, the government banned ICOs, which led to a corresponding market drop. Then, both rumors of a broader ban and an eventual edict shutting down cryptocurrency exchanges led to a significant market crash. New details spelling tougher times ahead for all transactions, and potentially mining, could cause renewed market pressures.
However, following the aforementioned turbulence, markets have rebounded, and much of trading volume lost from China has since been compensated for elsewhere in Asia, particularly Japan and Korea: