[2013-12-06] Despite panic, China’s regulation of Bitcoin leaves room for optimi

[LiteCoinGuy]

Despite panic, China’s regulation of Bitcoin leaves room for optimism

On December 5, 2013, the People’s Bank of China, Ministry of Information Industry, China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission jointly issued a notice warning citizens about the risks of Bitcoin. The immediate response was a steep drop in the bitcoin price, led by the Chinese exchanges.

http://www.techinasia.com/panic-chinas-regulation-bitcoin-leaves-room-optimism/

[TraderTimm]

I agree with this article. China isn't stupid. They're minimizing some of the risk that they see, but they're not banning citizens from using Bitcoin. That's the crux of it. Probably a more reasoned response than what will come out of the United States, I'm sure. Still waiting for the other shoe to drop on that one.

[lumierre]

Yes, they're passing the risk to the citizens which is a good thing. When bitcoin catches on even more, it's the people who will benefit and not the government or financial institutions. This is a victory for bitcoin. Power to the people! 

[BitDreams]

Thanks for the post.