Bitcoin Forum

Regulations for Chinese Bitcoin Exchanges Expected in June, Withdrawals Could Soon Follow

Following the inspections by the People’s Bank of China (PBOC) which started in January, Chinese bitcoin exchanges halted bitcoin withdrawals. Now that the inspections are near completion, regulators are reportedly preparing to issue regulatory guidelines for all bitcoin trading platforms in China. These documents are expected to be released in June and withdrawals could soon follow.

Source: https://news.bitcoin.com/regulations-chinese-bitcoin-exchanges-expected-june-withdrawals-follow/ (https://news.bitcoin.com/regulations-chinese-bitcoin-exchanges-expected-june-withdrawals-follow/)

That's another mayor step in the bitcoin process!

BITCOIN IS BOOMING! BTCBTCBTCBTCBTCBTC

So they're finally going to get their BTC unfrozen from the exchanges? How do you think this would affect the exchange rate? I mean, it been steadily going up, would the price go down as those coins come back or will it go up?

do we know how many echanges and how many bitcoin frozen?

I like that market proven that China is not that BIG as many was thinking.
Japan now is much bigger we have real volumes over billion $ : ) without China.
I really like it.

Without China,Etf price went from 1100 to 1800$ Who needs China so much?

Well, China has been interested in doing this stuff for a long time, I just don't know if they're going to really do anything beyond what they've done in the past but if they aim to start regulating it then it might spell interesting times for the future. China is a very unique player and their government doesn't seem to have any rhyme or reason to Bitcoin beyond just wanting to make sure that their money isn't flying out of the country.

I assume this will help the price of Bitcoin shoot upwards more.  I wonder what percentage of people in China are buying bitcoin?

With a bit population there could be millions of Bitcoins users.
They mini a lot, they trade a lot. BTC price with 200/300 when China stops the exchanges.
No one know's how the market will react in price on this news.

it is very hard to predict things because usually what you logically predict will not happen and instead what people think is best will happen :)
for example if they need a correction the FUD will be Chinese are gonna dump, run for your lives and price comes down.
if the time is good for rising, then the FUD will be Chinese are coming back to pump bitcoin, buy for your lives and price will go up!

but I think in reality, since Chinese bitcoin price is so much lower than everywhere else, there will be a lot of buying instead where people deposit a lot of fiat (CNY) to buy cheap coins.

Another opportunity to make some Satoshi in June. Because I know the trading volume of bitcoin will increase at that time. Most news from people bank of china do impact crypto currencies market prices.

Last I remembered in the news, it was 3 exchanges. Don't know how much btc was left in there when they halted all withdrawals.

Well, it looks like we really just have to wait and see. This is the exciting (and nerve-wracking) part of bitcoins. I mean, it's always nice to hold but I fancy I might make some money selling before a dump. Seems FUDs are having less effect on people now.

the only thing good that the rest of us (who don't live in China) can get is that we no longer see the usual topics talking about how Chinese are manipulating bitcoin and how bitcoin is centralized in China with their volume!
i just hope it doesn't start again when they come back!

In short term may cause another dump. Some people may have their bitcoin frozen for months and will sell them somewhere else to take the profit, then taking price down

But regulation is better than doubt, people project the worst nightmares in the things they don't know