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Despite Ban, China Keeps Trading Cryptocurrency Thanks to Tether and VPNs, Says Report

Chinese traders are using virtual private networks (VPNs) as a major tool to circumvent the ongoing government crackdown on cryptocurrency trading, local media outlet South China Morning Post (SCMP) reported September 8.

A Beijing district stepped up the general ban on cryptocurrency exchanges last month, seeking on a local level to ban over 120 websites of platforms attempting to serve would-be domestic consumers.

Chinese traders have pursued various means of crypto trading since authorities first began cracking down on the practice in September 2017, Cointelegraph has reported.

These have taken the form of using Hong Kong as a home from home for platforms themselves, while traders have resorted to peer-to-peer options, something the Chinese government has now also sought to shut down.

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