A little over a week ago, China renewed its hostilities towards the crypto industry as it declared all crypto transactions within its jurisdiction “illegal.”
This new regulation, while it has had some negative impacts on the price of the leading digital asset, Bitcoin, alongside other cryptocurrencies in the market, the winners in the current shakedown appears to be the decentralized finance (DeFi) sector.
Centralized exchanges out of business
Since the pronouncement of the new ban, centralized exchanges like Binance and Huobi, two of the biggest crypto exchanges operating in the country have had to either suspend or restrict their operations in the Asian country.
We reported that the CZ-led exchange, Binance, declared that it had stopped operating in the country since 2017 while Huobi stopped letting traders from the Chinese mainland register new accounts.
Assets typically flow within a region, likely due to preferences for local exchanges, but flows between regions often occur a
Źródło: https://cryptoslate.com/defi-tokens-sushi-snx-uni-emerge-as-winners-after-chinas-crypto-crackdown/
