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i found this news: http://finance.jrj.com.cn/tech/2017/09/08211823086220.shtml

Translate in english:

【related news】
    The bigger storm is approaching: the regulatory brewing ban on the bitcover trading platform
    Nobel Prize winner angry grant bitbell: how similar to the market bubble
    Masters Comments: why the central bank to stop the issue of tokens do not fall back up
September 5, the central bank Securities Commission, including seven departments jointly issued a document, halted the first tokens issue (ICO), was public opinion as "China's strongest ICO supervision." However, things are far from over ...
A larger regulatory storm approaching: close to regulators on the 8th to the China Securities Journal (ID: xhszzb) reporter said that the bit currency trading platform has become illegal economic activities, money laundering and bankers manipulate the price of loser retail channel, should be banned as soon as possible The
Focus on
Close to regulators said:
➤ Bitcoin trading platform has become illegal economic activities Money laundering and bankers manipulate the price of looting of retail channels, should be banned as soon as possible.
➤ In addition to the illegal economy and extortion, the basic application of Bitcoin is not currently seen.
➤ Money laundering with Bitcoin can bypass the regulation of the transfer of funds, especially in China, there are still capital controls in the case of such acts should be introduced as soon as possible regulatory measures.
➤ bets a bit currency trading platform, not a ban on Bitcoin. The banned platform is a channel to cancel a large amount of currency and currency exchange.
Dynamic pin dividing line
Talk about ICO first.
ICO (Initial Coin Offerings abbreviation), the first tokens issue, from the stock market, the concept of initial public offering (IPO). Investors can be simply understood as: IPO to raise funds is the yuan, ICO raised is the bit currency; IPO is the stock, ICO issued a variety of tokens; IPO to raise funds for a variety of production and business activities, ICO to raise " Funds "for the development of various types of block chain projects.
But ICO and IPO difference between the huge!
We know that corporate IPO is regulated by the SFC, under strict market rules and strong supervision, the Commission can still find a lot of corporate fraud, some companies can be suspended IPO process, successful IPO after the listing of enterprises Continue to be regulated, investors are also based on rights.
But before the 7 departments issued a document, ICO is in a non-regulatory state. In other words, ICO issue of the project, investors basically no way to confirm. A financing project that is not regulated by any department, the existence of the project first need to be questioned; the same time, investors profit mode is the secondary market transactions into the "token", you can imagine how much risk.
Professor Deng Jianpeng, a professor at the Central University for Nationalities, found that "up to 90% of ICO projects are currently suspected of fraud."
Investors have realized that the project is nothing but a Ponzi scheme, but also feel lucky, that he is not the last one to pick up the last person.
Bitcoin: front high energy warning!
Interestingly, in the ICO halted three days later, bitco strong rebound has been basically recovered. But with regard to Bitcoin, investors need to note that national regulatory measures are not the same.
At present, China's regulators most concerned about is that Bitcoin has become illegal means of money laundering. At the same time, Bitcoin is also the main means of payment for the underground economy.
Bitcoin in the absence of supervision of the secondary market transactions, the dealer manipulate the price, the price fluctuations are too large, but also easy to allow retail investors suffer losses.

I hope they will not try to Ban all crypto coins in China.
And they wont do that cause its a really good income for China.
Please think about Asic Manufucators and big farms in China. Then You will see there is no way to Ban

i hope they DO BAN all crypto in China including bitcoin. it will be once and for all and we will get rid of them for good!

i am honestly sick and tired of hearing about news coming from China that always spikes FUD and causes bitcoin price to swing around wildly. if there was reality to these swings i wouldn't have been as mad.

some bullshit rises from China and panic sellers start giving away their bitcoin to whales instead of taking the cheap coins from whales. and we have all seen where each of these panic sells end up...

Most of Bitcoin miners are running in China, if China bans bitcoin then I expect its price drop to $2k or less.

If they do ban bitcoin and all crypto related activities in China, it will be like shooting themselves in the foot. I am Chinese but I am all for open markets and innovation. If China wants to be a leader in innovative technology then ruling out the Blockchain will be short of being fool hardy. I may not live in China anymore but I care about what is happening in my home country and while it is good to regulate the Industry against thieves and scammers, making such a blanket ban does not bode well for China. The rest of the World will move on without the Chinese to this effect.

Conversions from Mandarin/Cantonese to English is not a direct science, but this article seems to be talking about the Chinese crackdown on ICOs specifically, not an overall banning of cryptocurrency. While bitcoin is mentioned as it relates to fraud and illegal activity, it always seems to circle back to ICOs.

This seems more like a "We are aware that illegal activity occurs as it relates to cryptocurrency -- the biggest offender is ICOs because they are 90% fraudulent and target the consumer directly."

As far as government regulation goes (which is generally bad in the crypto world) for something like this -- I would say a crackdown on fraudulent ICOs is a logical response.

Don't worry about Bitcoin being banned in China. China is the largest consumer of cryptocurrency and has the widest adoption of it. It's never going to happen -- too many people in China stand to take a major loss if it does.

For the love of god, yes please panic and sell everything like morons. Other people will love to buy it, such as myself, and make fortunes whenever idiots start panicking.

Facebook is illegal in China too, going well for now.

who cares, get rid of this pest of a country once and for all.... tired of them trying to spoil the party.

let's withdraw our orders for flip flops and go with countries that accept btc until they are at breaking point.

Although good they are cracking down on ico scams. Ban all that fancy terms for insider instamining and bring back a real distributional model like POW.

Don't worry, once decentralized exchanges like Kyber get going this is all going to be a worry of the past ;)

Friday, bloody Friday!

Buying opportunity?

these fukking china/chinese rumors need to stop as it is not funny anymore, it is irritating, annoying and these fukkers sound dumb. these guys and even their government sound like little kids wanting candy then ban it the next day. no one can ban crypto, simple as that. there will always be ways around it even torrent, just like torrent.

THESE FCCKING CRY BABIES NEED TO STOP NOW!

Bloody monday, bloody friday... And everywhere is China. It looks like soon market cap will be going down if there is any news with word China. Truly speaking this news could produce huge income for people, who produce them, i.e. China officials. They need just make short position before the news and GDP of China would grow instantly for some percents in few hours)))

Will that make BTC price fall?

China and the West are the biggest money launderers in the world.

The Chinese people have been laundering money out to buy real estate in the West for decades.

Several years ago, China's central bank asked Western governments to help stop this.  Instead of helping, Western governments such as Canada and Australia, aided and abetted the money laundering, by offering visas to any Chinese who brings over $X.

Banning cryptos is probably another attempt by the Chinese government to stop this money laundering.

When Western governments tell you that they want to regulate cryptos with AML, they probably want to stop outflow only, not inflow of money.

Utter BS.

China has taken a stance, as did the US, that ICO coins are simply unregulated and illegal sales of securities.

Bitcoin was not launched and sold by a for-profit centralized corporation selling a product/security; Nor was litecoin for that matter; they were simply invented and put into the wild for anyone to mine. A world apart from being created and sold by a for-profit corporation as an interest or share in a centralized company for the purposes of 'fund raising'.

On the other hand, coins like Ethereum & Neo are certainly going to have a problem.

The US has also begun to regulate crypto exchanges, the Chinese are following suit along the same lines; This should simply make decentralized exchanges more popular.

This is not a 'blanket ban', pure FUD.

FUD again, zzzz. Retards sell now, smart guys buy. Retards fomo back again in.

How can they ban crypto when China is the leading manufacturer of crypto? Or are they going to continue mining while banning the product that the mining generates? Doesnt sound believable.  ;D

I hope my buy orders will go off. Keep selling to the right hands. Lets make some big money. Goodnight.

I agree with you, every time chine do something it effects bitcoin price. It is just showing how bitcoin is centralized and i hope they will ban it because it won't be centralized in China any more!

If they make Bitcoin illegal in China I guess there will be a lot of cheap mining equipment on sale...

This is going to happen because China now is relying to the empowerment of their currency this is why they are going to ban bitcoin because of too much patriotism in their heart that they believed that they dont need the help of other nations that they must believe of their own capabilities. If they adopt bitcoin its just like they denied the dignity of their country.

I'm a contrarian so, when china bans bitcoin i think the price will skyrocket, why? remember what happen before when china implementing capital controls? bitcoin mooned. Who knows maybe today is more of retaliation.

I think so. It is difficult to ban standing cryptocurrency like BTC and ETH and others that have high marketcap. even one country ban, there will be hundred country not ban BTC. It is difficult because many merchants accept BTC payment like Burgerking and some shopping stores. It is people money country can't ban a large marketcap BTC. No worry about that. Even all country bans ( Impossible) Bitcoin is still worthy because many users will accept bitcoin payment for their products and services.

They always say that. But nothing happen. They are just spreading FUDs to make cryptos prices collapse. Only noobs will buy that shit.


Yes, you are right. They are the biggest manufacturer of mining rigs and probably one of the biggest cryptocurrency mining in world. I don't think they will totally ban it.

Yup. As China is one of the biggest player when it comes to crypto. Bitcoin will definitely crash. Recently, they ban all ICOs there. Now you see big impact at the price of bitcoin and altcoins in the market. Most of them are declining. If they ban all cryptos, i think bitcoin will go back from $2,000.

Those equipment must have been overused, Chinese miners have existed since centuries and they're doing it 24/7 so you can guess how's the condition of those rigs, pretty sure that those aren't in mint condition.
and I don't think the electricity in china is so stable that their rig never gets sudden shut down.

There has been an waning in tolerance of Western influence in China in recent years (for example, the recent bans on naming complexes in Western manner, the crackdown on VPNs, or the gradual dominance over HK) and wealthy Chinese people are seizing cryptocurrency as a faster method of transferring RMB abroad than, say, investing in real estate.

So there are some reasons that the CCP would want to "ban" crypto.

However, I believe that the Chinese are too pragmatic to flat-out ban cryptocurrencies and will instead attempt to control the market as best they can.

Skeptics of the Chinese ability to control crypto markets should remember the Great Firewall--China's successful attempt to censor the Internet.

These are interesting times, indeed.

According to MarketWatch, People's Bank of China (PBOC) in 2011 said:


This is $6.9-$7.7M per official.  The PBOC asked for help from Western governments to stop this.


Instead of helping, Canada, Australia and U.S. provided resident visas to the Chinese if they brought over a certain amount of money.  The Chinese bought thousands of expensive houses.  Real estate is a multi-billion dollar money laundering scheme, aided and abetted by governments.

In 2012, the Wall Street Journal explains how the Chinese accelerated this money laundering (with the help of Western governments).  The situation has gotten so bad, that the Chinese government is taking matters into its own hands:


All other types of money laundering pales in comparison.  When the government tells you that cryptos needed to be regulated to stop money laundering, their mantra is "do as I say, not as I do".

If China bans bitcoins and other altcoins, I personally don't think it will affect the price of bitcoin. because they will find a way to trade with bitcoins. That too Japan is China's neighbor where bitcoin is fully legalized. If government bans bitcoins, they will use Japan's bitcoin's exchanges to buy and sell bitcoins and to convert it to fiat.

I do not care anymore about this bipolar Chinese government and their decision to get more control on their citizens. Bitcoin will survive without them and the market will be more healthy!

Maybe the price will spike a little but Bitcoin is resilient toward this government.

The official ban in of crypto in China actually wouldn't be that bad as many would think. It would certainly clear the air and clear the speculation.
In the same way that the previous ban on leverage trading on Chinese bitcoin exchanges, after it we never have such dramatic price spikes and sell offs.
I wonder how this ban would affect bitcoin mining though? I hope that Chinese bitcoin miners don't give a damn about minor inconvenience like that tho.

with the beginning initials of customs as the basics on indication of the profiles of the prc investors

as the country has with the strict limitation on information exchange

as those to differs the limit on possession as the aspects on users of coins to work on displacement of unit with the exchange of appropriation as

the disputing value on position with the coins of the selection,

as the number on relatives with the aggregate level of exchange should be as those of the buyer from prc has as they

had with the customs of the above policy as

the less on moderate with the parts as works with the manage of coins valuation

gives on their side as they gains with the higher on contrast as the range of value with the exchange as displacing risks on release as

entering global market of crypto currency business of the finance.

The weekend rumor is that Bitcoin won't be banned, but bitcoin/altercoin trading with fiat will be banned. It will drastically reduce demand on bitcoin from China in short term. The decision however may be revisited in the future. Anyway Monday may be the day in the history that bitcoin starts its final step towards true decentralisation.

ico is a centralized way of gathering investment, bitcoin is not. you are right, this is why ico will be heavily regulated

as far as i know, most exchanges in China ban altcoins which ico recently, but not btc, eth, bcc and other old coins, also, China never declare that bitcoin is illegal, in fact, the regulation and rumor these days indicate that China just to control financial risks and prevent mass incidents

i believe only ico is banned in china. they only banned it to make a regulation to keep theirs money up. i think it impossible to make bitcoin illegal cause there is so many business who depends on it. if bitcoin does illegal on there  yes i agree lets buy mining machine.

Am I the only one seeing so many conspiracy here? how many times China has done the same thing over the past years I lost counting for a long time now.

Every time it's a new thing, but what do I care if they ban life? what happens to me and my money if another country is doing whatever they want with their

Own people inside their country and not doing anything to others directly. I think we should let them to do whatever they want, only if you live in China you

Could start getting worried.

in addition the the bitcoin obituaries, we need a tally showing how many times china ban bitcoin

i'm just going to start my motorbike here, ftt......fttt...... fud... fud fud fud fud fud fud fud fud fud fud

I do not really bother with the Chinese ban.
there is an awkwardness that I feel. this is like an emphasis for crypto, and creates a global decline in crypto.
such as scenarios and deliberate rumors.

I just wait and hold some crypto. from bitcoin and other altcoin.
we can only monitor its progress.

People have been complaining about Chinese long before icos just because they have these big mining farms of bitcoin and thus not only possess what others would have wanted but don't have but also can sort of control the btc price. I see sense in what you say but I still think that it would be too hard for people to overcome the price changes of btc due to this potential btc ban. I guess the risk of lots of people dumping btc along with Chinese is just too high to take.

There will be global collaps if they trully ban BTC and other altcoins, because main BTC miners (more than 50% hashrate) are at China. Of course they will relocate in some time. But the consequences will cause sufficient decreasing of global market cap...

I doubt BTC will be illegal, thats just FUD... It is not possible to control BTC as long as not hole world will unite against BTC, and this is most likely not going to happen...

I hope they do ban it and I hope the biggest dump in Bitcoin history comes from it.   I am patiently waiting for them to do something so stupid.

afraid of chaos.

the customs that crypto currency business involving of the modest on works as returns with the qualification of the beyond rational level of compliance

gives as shifts with the contrast value as whilst they of the country chinese has with the lack on access as appealing the use with deliverance of

message due as the policy on barre with information exchange.

that the crypto currency customs as those had within the parts on schemes as occupying goods of digital/symbolic/intangible with the initials that

country chinese work within mechanical/technical production or manufacturing with the less on rational appropriation as of the expectation,

flows of the higher drops as country chinese as whilst as might to compared with bored on physical works as menpower within sectors of manufacturing.

But why not care about the health of bitcoin and not just be selfish? Let's try and make bitcoin great altogether for everybody