How is it possible to buy and sell Bitcoins in china? Because as per the news, China aims to clamp down on “all cryptocurrency trading with a ban on foreign exchanges.”Chinese regulatory authorities had imposed a ban on initial coin offerings (ICO), a cryptocurrency-based fundraising process, and termed it illegal in China in September 2017. That ban triggered an instant 6% decline in bitcoin prices. Following the ban, the Shanghai-based BTCC bitcoin exchange was forced to close its Chinese trading operations.