What's happening with crypto in China? 3 things investors should consider

It has been over two years since the People's Bank of China effectively banned crypto exchanges and trading.

China remains a key topic in the crypto space in 2020.

The existence of two major crypto exchanges in China in OKEx and Huobi.

Despite China's continuous crackdown on cryptocurrency trading, the local crypto mining sector has avoided the imposition of a complete ban.

The decision of the government of China to essentially reverse its ban on Bitcoin mining likely indicates that it wants to remain in some control over an important aspect of bitcoin.

Some have argued that there are fears of centralization as China's crypto mining space grows off of cheap resources, electricity, and naturally cold climate in the northern region.

The People's Bank of China and other relevant agencies are also utilizing the blockchain to develop a national digital currency.

Increasingly looks like China story is 1) Huobi and OKEx get *some* level of approval 2) Binance and international exchanges mostly iced out 3) Small casino exchanges like MXC and Biki get shuttered or chased offshore.

Crypto trading remains formally banned in China and as such, the term "Institutionalization" means that on paper, the two exchanges are only open for institutions and accredited investors.

Still, the two exchanges being allowed to operate even with significant restrictions can be considered a sign that China is not completely closing off to crypto and the blockchain.