Chinese users are as of now unable to search for popular crypto trades on the country’s internet services in the midst of reports of possible censorship.
Keywords searches for web-based exchanging platforms including Binance, OKEx and Huobi on popular internet services such as Baidu, Sogo, Zhihu, or Weibo are yielding no results. Other media outlets including CoinDesk first reported the possible blockage. The Chinese government has recently renewed a regulatory crackdown on crypto mining and trading, helping send Bitcoin down about 45% since its peak in April.
The exchanges that seem, by all accounts, to be affected are the absolute largest in the advanced resource world, with Asia-based users being among the soonest adopters.Binance is the world’s biggest crypto platform, with $30 billion in trading volume in the last 24 hours, according to CoinMarketCap.com, a site owned by Binance.
The Chinese government has been tightening its cryptocurrency regulations since 2017 in an effort to control capital outflows and prevent speculative bubbles. Chinese Bitcoin investors earned $1.1 billion in realized gains last year, and were only second in those gains by those in the U.S., data tracker Chainalysis said in a recent report.