Bybit, a major cryptocurrency exchange, has reportedly initiated registration and identity verification procedures for Chinese citizens residing outside China. Users can now sign up and engage in crypto trading on the platform using their Chinese national identification. However, trading cryptocurrencies while based in China appears to remain prohibited.
Read MoreRecent developments in China indicate that cryptocurrencies are still being used despite the government's ban. Chinese police have conducted multiple raids, uncovering illicit transactions worth billions of dollars involving cryptocurrencies.
Read MoreThe Chinese government, through the Panshi City Public Security Bureau in Jilin Province, has cracked down on illicit cryptocurrency banking activities, as reported by local media.
Read MoreRichard Byworth, Managing Partner at SyzCapital, has sparked speculation regarding the accessibility of Bitcoin ETFs listed in Hong Kong to investors from mainland China.
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