China Officially Bans All Crypto-Related Commercial ...
China Officially Bans All Crypto-Related Commercial ...
China Bans Bitcoin and Crypto Mining? - CryptoNews from Asia
Major Chinese Bank Launches Central Bank ... - Bitcoin News
China Is Said to Ban Bitcoin Exchanges While Allowing OTC ...
Is Bitcoin Banned in China? - Investopedia
This just in! China banned is banning Bitcoin, just like they did a month ago !
China will be banning Bitcoin every day, and continue to ban it until the end of time. Lets all circle jerk about China banning Bitcoin and allow China to control the decentralized global currency known as Bitcoin.
[uncensored-r/Bitcoin] China Bans Bitcoin Executives From Leaving the Country, Miners "Preparing for the Worst"
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[uncensored-r/Bitcoin] China "bans" crypto.... hope you're not surprised
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It shouldn't be surprising that China is taking a hard stance against cryptocurrencies. The CNY is a controlled currency, so any FX into or out of any other currency, whether it be USD, JPY, BTC, or whatever, would be either regulated or outlawed. In this case, no regulations have been put into place yet, so the answer is the ban. Japan is an entirely different case because JPY is freely convertible. If there are no limitations on exchanging JPY into USD, EUR, gold, etc. - then there's no harm in legalizing BTC which is essentially acknowledging its use as a "currency" or medium of exchange.
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[uncensored-r/Bitcoin] China bans bitcoin = Price goes up. What an excellent precedent
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Since september 15th the price of bitcoin has increased 100%. You read that correctly. September 14 2017 = $3226 Now = $6569 1,500,000 new wallets Good luck banning Bitcoin
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[uncensored-r/Bitcoin] "China banning Bitcoin. Venezuelans surviving off of illegal mining. Time to take Bitcoin serious...
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He had a string of bad news regarding bitcoin (China Ban, MtGox scandal, etc) but they have passes. Now why doesn't bitcoin price raise again?
All those bad news are over, and many other good news have surfaced, basically more and more companies embracing bitcoin and the bitcoin ecosystem getting richer day by day. Should bitcoin price be rising again? (Typo in the title: "passes" instead of "passed")
[uncensored-r/Bitcoin] China Banning Bitcoin again?
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[uncensored-r/Bitcoin] China banning btc mining, not bch, allowing NEO ICOs
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08-06 12:03 - 'Cryptocurrency in China: Over the Counter, Under the Table' (self.Bitcoin) by /u/TrueCastleX removed from /r/Bitcoin within 568-578min
''' Between headlines like “China Bans Bitcoin”, “China Bans Crypto Exchanges?”, and “China Bans Bitcoin Mining,” it’s no surprise that most people are unclear on where China stands on cryptocurrency and whether that has any real bearing on how its citizens behave. We hope to demystify this and offer some insight into the legal status of cryptocurrency and related matters.
In China, bitcoin is legally recognized and protected as virtual property. This has been the law since 2013 and the classification was reconfirmed in the recent [Hangzhou court ruling]1 . However, this does not recognize bitcoin or other cryptocurrencies as legal currency. Hence, any use of Bitcoin as a currency is illegal. Occasional peer-to-peer OTC transactions are acceptable, as long as the behavior remains on a small scale. All mainland financial institutions are barred from any involvement in virtual currencies and foreign entities are also prohibited from serving mainland customers. Related: [UK Finance Watchdog Issues Guidance on Regulation for Bitcoin and Crypto Assets]2 China has been[ progressively restricting more aspects of cryptocurrency]3 within its borders dating back to September 2017, when it began by[ banning ICOs]4 because of the financial risk and frequent fraud. Since then, China has[ not hesitated to prosecute]5 seriously offending ICOs or crypto scams, which were clearly scamming their customers, such as Hero Chain, EOSPLUS, TronDotWallet, PlusToken, MGC, and DOGX. Some of them raised a ton of money from retail and exit scammed, some disguised as wallets or high-yield quant fund. The largest among them is [PlusToken]6 , which has scammed over a whopping $3 billion in total. Core team members of PlusToken were arrested earlier this year in Vanuatu with the help of local police and are now facing decades in jail. The ICO rules also restricted the activity of cryptocurrency exchanges domiciled in mainland China, as they are considered to be facilitating illegal fundraising and financial crimes. To preserve their businesses after the ban, these exchanges restructured and moved overseas to countries such as Japan, Singapore and[ registered in countries like the Seychelle]7 s and Malta. However, some exchanges, including Huobi and OKEx, continue to conspicuously serve Chinese customers in crypto to crypto trading, and facilitate yuan to BTC/USDT exchange disguised behind a peer-to-peer OTC front. The regulatory requirements on bitcoin mining are relatively fuzzy, the “ban” was not issued by a legal or regulatory department, but rather came from a “[industry structure reform recommendation]8 ” from a state planning agency, which usually serves as [a guideline instead of actual regulation]9 . Hence, we haven’t seen any material impact on local mining facilities due to this “ban”. While many Chinese miners are currently looking for foreign sites, that is primarily due to fierce local competition rather than regulatory concerns.
The actual handling of cryptocurrency in mainland China in practice doesn’t reflect the letter of the law, however. It’s no secret that Chinese citizens remain deeply involved in cryptocurrency mining, trading, and ICOs/IEOs. While official figures say that the percentage of cryptocurrency trading attributable to the yuan has dropped from 90% to 1% in the wake of the 2017 regulation, this does not account for over-the-counter trading which is where most fiat to crypto volume in China[ has shifted to]10 since the regulation. OTC options are offered by exchanges like Huobi as well as by locally managed WeChat groups. These OTC desks take the form of a marketplace where buy and sell orders are offered manually and transactions are done in a peer-to-peer manner. The platform here merely acts as a place for buyers and sellers to discover each other, rather than facilitating trades itself as exchanges do. ''' Cryptocurrency in China: Over the Counter, Under the Table Go1dfish undelete link unreddit undelete link Author: TrueCastleX 1: *wit*er.*om/**vey*an/*tatus/1*519**3*39*9008768 2: www.*o*ndesk**om*uk-fi*anci*l-wat*hdog-is*ues-ful*-guid*n*e*on-crypt******ts 3: ww*.loc.*ov/**w/h*l*/crypto*u*renc*/chi**.php 4: www.pbc.*ov.c**g*utongj*****u*11345*/11*469/33**2*2/inde*.html 5: www.c*a*n*ew*.co*/*rticle*/9955***14*56.htm 6: cn.longhas*.com/ne***pl*s-*oken*%E6*88*96%E*%B7*91%*8*B7%AF%E4***%8*%**%*B%8D%E*%9C%8**E5%A*%A*%E*%8*%8F%*8%B*%84%*9*87%91%E5%*0%9A%E6%9C%AA*E8%*D****E5%8*%B* 7: *inan**.sina.*n*blo*kc*ai*/2018-09-0**detai*-ihiix*e**6*61*6*d.html?fr*m=*ap 8: *ys.**rc.gov.cn**y*gtzzdml201**408*pd* 9: blo*kcha**.peo*l***om.c*/*1*2019/0408*c*1768*-3*0184*1.html 10: *ww.*mtpost**om/291**78.h*ml Unknown links are censored to prevent spreading illicit content.
China’s Digital Currency Could Challenge Bitcoin and Even the Dollar. Authorities are testing a new kind of money in four cities. Bloomberg News. June 1, 2020, 4:00 PM EDT From . Illustration ... One of China's biggest banks recently opened up registration for wallets using the country's central bank-backed digital currency. There are four levels of the wallet, according to reports. If China truly did ban Bitcoin mining once and for all, there would be a large effect on the hashrate, which would drop significantly in the short-term. This would create a price incentive for miners to move or start up businesses elsewhere with cheap energy and favorable regulations, bringing the hash rate back up in the medium to long-term. For the moment, Bitcoin mining is alive and (mostly ... China Makes Ban Official. According to the latest tweet by Dovey Wan — the Managing Director of Dhanua Capital, a California-based venture capital fund — the Chinese government authorities have released an official order asking to ban all the cryptocurrency-related commercial activities and events. The new China crypto BAN is now official … @coindesk @Cointelegraph @MessariCrypto pic ... Several thousands of bank accounts belonging to cryptocurrency traders have reportedly been frozen by Chinese police as a result of an extensive crackdown on illicit activities. Frozen accounts ...
BREAKING! China BANS BITCOIN Again!? Why?? - YouTube
Will China ban bitcoin ? China ico ban ? China crypto news today is BIG since there's a rumor (possibly true) that china is banning bit coin exchanged. We wont know if it's true until it happens ... Chinese law has never forbidden owning and transferring bitcoin. In this video, let's talk about crypto regulation in China. Can Chinese own and trade crypto... Bitcoin Q&A: Will governments ban cryptocurrencies? - Duration: 7:36. ... Breaking: China To Shutter All Bitcoin Exchanges with Simon Dixon of Bank To The Future - Duration: 34:05. The Dollar ... China Bans Bitcoin Exchanges AND Mining? Good or Bad? - Duration: 8:06. Crypto Daily 21,821 views. 8:06. Mike Bloomberg: Bitcoin 2020, leadership, equality in the workplace & Bitcoin Halving ... Make HUGE Money Trading Crypto Currencies (Even If You've Never Traded Before) ~ http://bit.ly/2eZdcmx One of the leading exchanges for crypto currency and B...