https://qz.com/1081161/bitcoin-btc-investors-in-china-are-flocking-to-peer-to-peer-platform-localbitcoins-after-the-main-exchanges-shut-down/

China’s bitcoin exchanges are closed to local customers, and a “comprehensive ban” is reportedly in the works. In the meantime, China’s bitcoin traders are heading for the peer-to-peer marketplace LocalBitcoins to exchange fiat and crypto. The trade volume on LocalBitcoins has surged in recent days.

LocalBitcoins is a website that allows buyers and sellers to deal with one another directly. It’s a decentralized network of traders rather than a centralized marketplace or exchange. That’s why it’s a popular option when official restrictions on crypto trading are put in place, or in markets without established exchanges, like India and Venezuela. Yuan-bitcoin volume on LocalBitcoins has tripled since August.