Bitcoin Futures Trading Questioned By Chinese National Media

China National Radio (CNR), a high-level government mouthpiece, has aired doubts about the legality of services offered by OKEx, the Hong Kong-based cryptocurrency exchange launched by OKCoin, previously one of the "Big Three" trading platforms in China. Through its podcast channel "Voice of China" on Thursday and later an article titled "Exchanges that still prevail after the ban," CNR alleged that OKEx violated rules by offering bitcoin contracts trading to mainland Chinese investors after it claimed to have moved its business overseas. The broadcaster cited two sources with the surnames Yang and Zhang, allegedly investors who had used OKex's services, claiming that the firm's bitcoin contracts trading is essentially betting on unregulated bitcoin futures with the option to add leverage to increase returns, and risk. The article went on to blast OKEx for apparently dodging regulations by registering itself in Belize, while having its headquarters based in Hong Kong, a…

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