Bitcoin Forum

Top chinese exchanges okcoin and huobi meeting regulators tomorrow. why they want to meet now? rumours becoming real?

https://twitter.com/SatoshiLite/status/908375715279597570

We will know tomorrow. Let's see when these dramas will end.

Treat it as a buying opportunity and a temporary setback even if anything comes of it.

This news is not confirmed and I don't think there would be any major announcement as they are the top most exchanges of China and the result of their shutting down would mean the a huge market instability as after bitfinex, almost 12% volume is traded on okcoin alone. Remaining exchanges have like 1-6%. It would be the loss of both, the exchange and bitcoins. And again bitfinex is a chinese exchange. Losing 45% of the market means the dead end.

There is no confirm.

At least just transfer your fund to the save place to avoid risk

I believe so. Charlie Lee tweeted that it's going to happen soon and it's pretty much happening to most exchanges in China. I just wish they announced it all at once instead of causing market drops every couple of days.

Bitfinex will not be shutdown. Yes it have office in Hong-Kong. But it is a British Virginia Island registered company.


Bitfinex will not be affected by China ban.


Here is official statement

https://i.imgur.com/ddVq5Tg.png

That’s pretty good. I would figure that most of the coins that are being manipulated in the huge Bitcoin Exchanges are the ones that are spread out everywhere in the world so if one goes down then they could move onto another.
There’s big exchanges going down then? I didn’t really notice big Bitcoin Exchanges going down and causing the price to decrease that much since the news of China getting the ICO’s removed from their country was the case.
There might be a huge panic if Huobi goes down because most traders like that place due to their high bids on their exchange.

I don't think China will do this. Ban on ICO we understand, Ban on Exchanges means injustice.

China wanted bitcoin exchanges out of the country, no matter what they do they'll also close down!

I think the trend is going as we can see from BTCC.

I think OKcoin and Huobi will be regulated as BTCC.

If it is not, there will be issue between these three.

Or they will try to closing their service again to follow what already did by other Project. As you can see btcc and some Exchange site like yunbi alreayd announced to close their service in the China, yunbi will have done that at the end of this month.

same like past, i think they only want to get cheap price again like when huobi close withdrawal for BTC and then open it again so btc price rise again and they can get profit from it

Not confirm yet, but i wait for more information

Meeting tomorrow and even agreeing to meet tomorrow by both parties is because they still believe something can still be done on the issue at hand and we can can still have a working plan rather than an outright ban on the issue of crypto trading. The outcome will be two ways

1. If positive, then we see a massive buyings of bitcoin while those who panicked will count their losses.

2. If negative, then a further dump is awaiting us because those who want to hold and await the outcome of the meeting will have no further reason to.

Seems that Chinese government decided to buy cheap bitcoins ;D

Chinese are smart. In my opinion, more than 50% of crypto are in the hands of Chinese, and the communist party is mostly behind it.

They have the most miners and traders so those Chinese people that are affected with the said ban are now trying to sell while it's early and for sure they are investing to some other alt coins and will still hold some bitcoins.

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After meeting with the regulators every local exchange will be back in business and licensing will be required by the China's gov't.

Yes , okcoin has announced it on its official website.   
https://www.okcoin.cn/t-2510731.html  You can translate it into English.

https://www.okcoin.cn/t-2510731.html
https://www.huobi.com/p/content/notice/getNotice?id=641

Both of okcoin and huobi will stop trading , it's not rumours.