Following the crackdown on cryptocurrency by the Chinese government, some payment giants are working closely with the government to monitor cryptocurrency daily transactions in real time and conduct risk assessment on suspicious transactions and at the same time permanently ban or restrict personal accounts involving cryptocurrency transactions on a case-by-case basis
But the question is how long will this continue. This can pose a threat to the economy as some companies might resort to secret or shady cryptocurrency trading in order to meet up in the digital currency world.
I believe China has not been able suppress cryptocurrency completely but has has been able to control it to the barest minimum. The ban is not due to to the fact that the state does not recognize cryptocurrency, or that block chain technology is not a viable one but more because of government policies and regulations.
Cryptocurrency trading is not dead in China and is going to a make a huge comeback.
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