Crypto traders defy China’s crackdown with secretive bets

Despite China's crackdown on cryptocurrency, investors in the country are continuing to trade it in secret. — Reuters

Chinese investors are paying little heed to the government’s biggest crackdown on cryptocurrency trading since 2017, underscoring the challenge for Beijing as it tries to rein in a speculative boom in digital assets.

Knee-jerk selling has given way to a steady recovery on over-the-counter platforms that Chinese crypto traders have used since domestic exchanges were banned in 2017.