The Chinese government is reportedly attempting to direct the cryptocurrency exchange sector undeviatingly. According to the reports by news.Bitcoin.com, Houbi Global and Chinese crypto exchange has become the main pathway of the authorities. The Chinese Communist Party (CCP) has filed to take over the roles of management at the exchange.
“It’s a fact. Already have CCP members take a role as Huobi management,” said the anonymous source. He also informed that the political party is moving to take every leading company in the financial sector, including Alibaba and Tencent.
China is currently making headlines with its ascended and optimistic approach towards the blockchain technology. President Xi Jinping has announced to evolve the nation as the leading blockchain country. Concurrently, the Houbi exchange has also announced the freezing of US citizen accounts following the compliance issues.