Dhroov Goswami

Bitcoin has faced an uncertain future in China lately. The country’s central bank, the People’s Bank of China (PBOC), has begun cracking down on digital currency exchanges and even banned ICOs last year, which lead to uncertainty about the future of Bitcoin in the country. However, all may not be lost just yet, as Bitcoin traders seem to have gone underground over the past months and quietly embraced peer-to-peer trading of the cryptocurrency rather than using exchanges, as revealed by new research from blockchain analysis firm Chainalysis.