Bitcoin Forum

Huobi is banned in China. No exchange of BTC / CNY Legal Tender (bank wire, third party payment etc) is allowed to operate in China.

The current running exchanges e.g. okcoin, huobi, btcchina etc are all going to close down this month before the final limit date given by the government.

Those Chinese exchanges can register abroad e.g. in Hongkong, Singapore, Japan, Virgin Islands or whatever low tax lite regulation countries, and running with BTC / NON-CNY currency pair. the case in the post "Big News From China", huobi.com registered abroad with a new domain huobi.pro, running with btc / usd tether to bypass China gov's ban. it has nothing to do with China.

Will it work? may be, may be not. For how long is a question.
usd tether is just like btc-e code or Liberty Reserve waiting to be cracked down by the US Authority.
The whole fake foreign but real Chinese companies like huobi.pro or okcoin.com etc are all operating in China, maybe even by the same group of people in the same office and the same room. China gov surely can raid them over night.

US gov already showed us this with btc-e, which its even worse that they hunted the russian admin down in Greece. compare to this, China has prefect authority.

In conclusion, exchange of bitcoin or any crypto for fiat or reverse is banned in China. stop spreading false information.

Oh look! Another troll account!

Huobi is banned in China. No exchange of BTC / CNY Legal Tender (bank wire, third party payment etc) is allowed to operate in China.

The current running exchanges e.g. okcoin, huobi, btcchina etc are all going to close down this month before the final limit date given by the government.

Those Chinese exchanges can register abroad e.g. in Hongkong, Singapore, Japan, Virgin Islands or whatever low tax lite regulation countries, and running with BTC / NON-CNY currency pair. the case in the post "Big News From China", huobi.com registered abroad with a new domain huobi.pro, running with btc / usd tether to bypass China gov's ban. it has nothing to do with China.

Will it work? may be, may be not. For how long is a question.
usd tether is just like btc-e code or Liberty Reserve waiting to be cracked down by the US Authority.
The whole fake foreign but real Chinese companies like huobi.pro or okcoin.com etc are all operating in China, maybe even by the same group of people in the same office and the same room. China gov surely can raid them over night.

US gov already showed us this with btc-e, which its even worse that they hunted the russian admin down in Greece. compare to this, China has prefect authority.

In conclusion, exchange of bitcoin or any crypto for fiat or reverse is banned in China. stop spreading false information.

there are a lot of people telling this and that and noone can provide us a solid source.
to be honest i do not really care about your drama and others,
what i really care is my lovely Bitcoin,no matter what price is it as long as it keep growing i will always love it.
let say chinese banning it,so what ? we have a world to love it and take care of it.
but what happen if chinese do not ban it ? nothing change,right ?
cryptocurrency and other assets are different,bear it in your mind.
always move to the opposite side from what people say and never believe it before you prove it by yourself.

You are totally wrong. there is no "a lot of people telling this and that".

China did ban exchangers, and exchangers have all made public announcements of shutdown process on their front pages. and you are still "confuse" if its true?

I don't care about the market influence neither, i see someone trying to spread FUD about huobi is re-opening and "China is not banning anymore", that's why i make this fact clear.

I don't care about what are you saying as long as bitcoin still on the right way and this time gets almost 7% increase. We will touch another new ATH soon.
Can you give me a reliable source or proof to proves your opinion about the bitcoin exchange are banned in the china?
A lot of people are lying about that. It seems you are including in there.

Just want to say that I am so glad China is finally out of this. The only fear I had was that China would continue to screw around and ruin what Bitcoin stands for.

Its ridiculous to expect a DECENTRALIZED currency being used in a country which has the most centralized power.

Goodbye China, we will not miss you~

Huobi is banned in China. No exchange of BTC / CNY Legal Tender (bank wire, third party payment etc) is allowed to operate in China.

The current running exchanges e.g. okcoin, huobi, btcchina etc are all going to close down this month before the final limit date given by the government.

Those Chinese exchanges can register abroad e.g. in Hongkong, Singapore, Japan, Virgin Islands or whatever low tax lite regulation countries, and running with BTC / NON-CNY currency pair. the case in the post "Big News From China", huobi.com registered abroad with a new domain huobi.pro, running with btc / usd tether to bypass China gov's ban. it has nothing to do with China.

Will it work? may be, may be not. For how long is a question.
usd tether is just like btc-e code or Liberty Reserve waiting to be cracked down by the US Authority.
The whole fake foreign but real Chinese companies like huobi.pro or okcoin.com etc are all operating in China, maybe even by the same group of people in the same office and the same room. China gov surely can raid them over night.

US gov already showed us this with btc-e, which its even worse that they hunted the russian admin down in Greece. compare to this, China has prefect authority.

In conclusion, exchange of bitcoin or any crypto for fiat or reverse is banned in China. stop spreading false information.

I don't care about what are you saying as long as bitcoin still on the right way and this time gets almost 7% increase. We will touch another new ATH soon.
Can you give me a reliable source or proof to proves your opinion about the bitcoin exchange are banned in the china?
A lot of people are lying about that. It seems you are including in there.

Thank you for the clarification. I think the title of that thread should be "Big News From China's biggest cryptocurrency exchange". Another lesson learned for today, I think we should really research the threads and news posted here.

Guys, It has nothing to do With CHINA. Read the FIRST POST.

In conclusion, exchange of bitcoin or any crypto for fiat or reverse is banned in China. stop spreading false information.

unless you can give us the official Chinese government announcement saying "exchange of cryptocurrences with CNY is banned", you are spreading FUD.

they have closed exchanges. true.
these exchanges were big and were working with CNY. true.
but it doesn't mean they have banned trading of cryptocurrencies. there are still other exchanges and people are trading them easily. you can check out localbitcoins and the huge CNY volume that comes out of there if you want.

News about China no longer moves the price down. If there is some positive development from China, the price might move up. So the false information and rumour mongering from China is going to be a futile exercise.

Yo fuder. here is the info you asked, you are welcome.


http://www.miit.gov.cn/n1146290/n4388791/c5781140/content.html

"中国人民银行 中央网信办 工业和信息化部 工商总局 银监会 证监会 保监会 关于防范代币发行融资风险的公告 04/09/2017" Announcement issued by "People's of China Central Bank, Internet Information Regulation Office, Office of the Ministry of Industry and Information Technology, Trade and Industry Bureau, Banking Regulatory Commission, Securities Regulatory Commission, Insurance Regulatory Commission 04/09/2017"

"三、加强代币融资交易平台的管理
本公告发布之日起，任何所谓的代币融资交易平台不得从事法定货币与代币、“虚拟货币”相互之间的兑换业务，不得买卖或作为中央对手方买卖代币或“虚拟货币”，不得为代币或“虚拟货币”提供定价、信息中介等服务。"
Chapiter 3,
Since the day of this announcement, any kind of so called cryptocurrencies exchange
shouldn't provide fiat CNY <--> cryptocurrencies nor cryptocurrencies <-> other cryptocurrencies trading service,
shouldn't sell/buy cryptocurrencies,
shouldn't set/provide price index for cryptocurrencies,
shouldn't act as trading escrow (p2p) neither.
cryptocurrencies = all kinds of cryptocurrencies, bitcoin, altcoins, shitcoins, ico scam coins, myass coin, fud gold, fake money, talkbitcoin fuddermonies or whatever..


Exchangers should be thankful to be given some delay (until the end of this month) to close down and clear the house and refund client's fund.
Now, you cool?

i read the page three times now. all i can conclude is that this article is talking about ICOs and how they are disguised way of illegal fund raising (http://news.8btc.com/caixin-reports-that-icos-are-suspected-of-illegal-fundraising-and-the-pboc-bans-all-ico-tokens-services) and because of that they are closing exchanges.

and i can still see large trading volume coming from localbitcoins in China and other places with CNY.

I can't understand what's the problem? Even if China banned the exchange of bitcoin into yuan it will not change anything. Exchanges outside of China will exchange crypto currencies for the dollar and the Chinese will get on their Bank account transfers in dollars. It seems to me that such news will not affect the attitude of Chinese people to cryptocurrency. There are issues much more important.

Why is there any doubt about this? Why is there talk of FUD?

We all know you can't play with crypto in China any more via normal routes. This pleases me greatly. The Chinese have been a glistening tumour sucking the life force out of the rest of us. Once the miners are gone then we'll really start to progress.

Goodbye. Please don't come back. Ever.

China is a capital control country you know? if you can't trade for CNY, then it has nothing to do with China anymore.
NO USD/EUR/CAD/GBP/JPY/etc goes in nor comes out from China. Chinese used to buy Bitcoin in China and dump aboard to bypass the control, this is one of the many reasons of the ban.

So the interesting question is : how do the Chinese evade the ban? By smugling gold to Japan and Korea ? And convert it there into USD and BTC ?

For now, most Chinese is simply out. the rest is using localbitcoin like websites to do p2p trading.

And that brings the next question : some of the biggest miners are Chinese, so what happens with their proceeds? It is not possible that it stays intra China, so are they "Exporting" their coins in exchange for Euro, USD currencies ?

They can sell through p2p trading in China or sell to foreign buyer / exchanger and receive the payment in their offshore bank account.

As much as we want them to be back in the ecosystem though, they have damage their reputation already. They have put a significant dent around the market last month. However, it seems that we are doing ok without them, so as the saying goes, don't fix it if ain't broken, so we might as well continue to moved forward without China because we have already proven that we can survived without them.

Huobi is banned in China. No exchange of BTC / CNY Legal Tender (bank wire, third party payment etc) is allowed to operate in China.

The current running exchanges e.g. okcoin, huobi, btcchina etc are all going to close down this month before the final limit date given by the government.

Those Chinese exchanges can register abroad e.g. in Hongkong, Singapore, Japan, Virgin Islands or whatever low tax lite regulation countries, and running with BTC / NON-CNY currency pair. the case in the post "Big News From China", huobi.com registered abroad with a new domain huobi.pro, running with btc / usd tether to bypass China gov's ban. it has nothing to do with China.

Will it work? may be, may be not. For how long is a question.
usd tether is just like btc-e code or Liberty Reserve waiting to be cracked down by the US Authority.
The whole fake foreign but real Chinese companies like huobi.pro or okcoin.com etc are all operating in China, maybe even by the same group of people in the same office and the same room. China gov surely can raid them over night.

US gov already showed us this with btc-e, which its even worse that they hunted the russian admin down in Greece. compare to this, China has prefect authority.

In conclusion, exchange of bitcoin or any crypto for fiat or reverse is banned in China. stop spreading false information.

Huobi is banned in China. No exchange of BTC / CNY Legal Tender (bank wire, third party payment etc) is allowed to operate in China.

The current running exchanges e.g. okcoin, huobi, btcchina etc are all going to close down this month before the final limit date given by the government.

Those Chinese exchanges can register abroad e.g. in Hongkong, Singapore, Japan, Virgin Islands or whatever low tax lite regulation countries, and running with BTC / NON-CNY currency pair. the case in the post "Big News From China", huobi.com registered abroad with a new domain huobi.pro, running with btc / usd tether to bypass China gov's ban. it has nothing to do with China.

Will it work? may be, may be not. For how long is a question.
usd tether is just like btc-e code or Liberty Reserve waiting to be cracked down by the US Authority.
The whole fake foreign but real Chinese companies like huobi.pro or okcoin.com etc are all operating in China, maybe even by the same group of people in the same office and the same room. China gov surely can raid them over night.

US gov already showed us this with btc-e, which its even worse that they hunted the russian admin down in Greece. compare to this, China has prefect authority.

In conclusion, exchange of bitcoin or any crypto for fiat or reverse is banned in China. stop spreading false information.

Huobi is banned in China. No exchange of BTC / CNY Legal Tender (bank wire, third party payment etc) is allowed to operate in China.

The current running exchanges e.g. okcoin, huobi, btcchina etc are all going to close down this month before the final limit date given by the government.

Those Chinese exchanges can register abroad e.g. in Hongkong, Singapore, Japan, Virgin Islands or whatever low tax lite regulation countries, and running with BTC / NON-CNY currency pair. the case in the post "Big News From China", huobi.com registered abroad with a new domain huobi.pro, running with btc / usd tether to bypass China gov's ban. it has nothing to do with China.

Will it work? may be, may be not. For how long is a question.
usd tether is just like btc-e code or Liberty Reserve waiting to be cracked down by the US Authority.
The whole fake foreign but real Chinese companies like huobi.pro or okcoin.com etc are all operating in China, maybe even by the same group of people in the same office and the same room. China gov surely can raid them over night.

US gov already showed us this with btc-e, which its even worse that they hunted the russian admin down in Greece. compare to this, China has prefect authority.

In conclusion, exchange of bitcoin or any crypto for fiat or reverse is banned in China. stop spreading false information.