Beijing News reported that executives of Chinese Bitcoin (EXANTE: Bitcoin) trading platforms may not leave the country. Allegedly, the executives were ordered to fully cooperate with Chinese authorities, Trustnodes reports.
The media outlet cites “industry insiders” as the source of this revelation: “A number of insiders said that current executives, owners, shareholders, and managers of bitcoin trading platforms are not allowed to leave Beijing. In accordance with regulatory requirements, shareholders, owners, and financial executives must fully cooperate with the ongoing investigation during the closure process in Beijing.”
ETHNews previously reported that Chinese virtual currency exchanges Huobi and OKCoin will cease their operations by October 31, 2017.
Yesterday it was reported that the that Chinese financial regulators will likely impose a nationwide ban on over-the-counter (OTC) and peer-to-peer (P2P) trading platforms in the upcoming weeks.
Earlier this month China’s central bank the People’s Bank of China proclaimed initial coin offerings (ICOs) illegal and demanded all related fundraising activity to be halted immediately. Chinese Bitcoin exchanges were ordered to stop all trading from September 30.