Chinese authorities plan to block domestic access to Chinese and offshore cryptocurrency platforms that allow centralised trading, Bloomberg reported Monday citing sources.
The ban will apply to websites and mobile apps that offer cryptocurrency exchange-like services.
Authorities will also target individuals and companies that provide market-making, settlement and clearing services for centralized trading.
According to the report, though, small peer-to-peer transactions will not be targeted.
Last year, China banned ICOs, shut down local cryptocurrency trading exchanges and limited Bitcoin mining.
A recent report claimed that an order had been issued to local governmental bodies to limit the amount of electricity allotted for the mining of cryptocurrency along with limitations on land use, tax, and environmental protection.
Mining giants are already looking for new homes overseas, most likely in the Canadian region of Quebec.