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Chinese Crypto Whales Avoid Ban with Premium OTC Trading to Buy Bitcoin

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According to CNLedger, a recognized source of China-related cryptocurrency news, the Chinese over-the-counter (OTC) market has revealed strong buys as of late, indicating an overall rise in demand for bitcoin. 1/ Chinese markets reveal strong buys. OTC (Over-The-Counter) trades, the almost only way to buy bitcoin with fiat in China, showing considerable $ premium (1 USDT = 7 CNY) over the official rate of 1 USD = 6.7 CNY. pic.twitter.com/bd0n0DGFVU — cnLedger (@cnLedger) April 8, 2019 After the Chinese government banned bitcoin and cryptocurrency trading in September 2017, local publications including SCMP have reported that a relatively large number of

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* First published on ccn.com

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