OTC crypto China Flash News List | Blockchain.News
Flash News List

List of Flash News about OTC crypto China

Time Details
2025-10-30
01:28
China OTC Crypto Alert: Huizhou Truck Allegedly Carrying 100M RMB Cash Linked to Crypto Exchange Business; Authorities to Verify

According to @PANewsCN, Hong Kong outlet Oriental Daily reported that on Oct 27 in Huizhou, Guangdong, a light truck was seen carrying stacks of 100-yuan notes estimated at over RMB 100 million (~HK$109 million), prompting official attention. Source: PANewsCN; Oriental Daily (on.cc). Local departments stated on Oct 28 they would verify the situation. Source: Oriental Daily (on.cc) via PANewsCN. Viral footage showed the cargo wrapped in plastic and tied with ropes, with the words “私房钱” and a phone number on the truck; the filmer said the video was not AI-generated. Source: Oriental Daily (on.cc) via PANewsCN. When the number was called, a man first claimed the cash was real and that he ran a cryptocurrency exchange business and had been contacted by police, then changed his statement to say the cash was props after the caller identified as media. Source: Oriental Daily (on.cc) via PANewsCN. The scene was at Maixing Rd and Mingzhu Rd in Huicheng District; nearby shops said they had not noticed the vehicle, and police declined to share details, noting they would pay attention during patrols. Source: Oriental Daily (on.cc) via PANewsCN. Trading takeaway: The incident underscores scrutiny of cash-based crypto exchange activity in mainland China; virtual-currency business is prohibited under the Sep 24, 2021 joint notice by the People’s Bank of China and other agencies, implying compliance risk for OTC operators pending official verification outcomes. Source: PBOC joint notice (2021-09-24); Oriental Daily (on.cc) via PANewsCN.

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