What happened to cryptocurrency in China?

This period marked the start of Bitcoin's meteoric rise in popularity and value, despite facing regulatory challenges and skepticism from traditional financial institutions.

In contrast to China's approach, other countries have taken a more lenient stance towards cryptocurrencies, seeing them as a potential tool for financial inclusion and innovation.

China's stance on cryptocurrencies has been evolving, initially banning specific actions related to them and eventually culminating in a prohibition of all transactions.

This restrictive approach contrasts with the Chinese government's own development of a digital currency, which is intended to be pegged to the national currency, the Renminbi.

One such example is the UK-based cryptocurrency exchange BTCC, which offers a comprehensive range of services including spot trading, futures contracts, and digital wallets.