“Chinese regulators definitely have the technical ability to shut down VPNs. However, traditionally it takes numerous conversations with different stakeholders to reach a consensus on configuring a firewall, which lengthens the process.”Companies such as Tencent have officially announced that they would ban accounts or block transactions that are related to the trading of cryptocurrencies. Although how these transactions or accounts would be identified is yet to be confirmed. Despite all this, traders are optimistic that as long as the transactions stay decentralised and peer to peer, regulators wouldn’t be able to completely block their access. The CEO of the centralised cryptocurrency exchange in Hong Kong TideBit, Terence Tsang, had this to say:
“The latest warning and potentially increased monitoring of foreign platforms is targeted at a batch of smaller exchanges that had claimed to be foreign entities, but are in fact operating in China claiming they have outsourced their operations to a Chinese company.”What are your thoughts on Chinese investors finding ways to bypass the nationwide restriction? Let us know in the comments down below!