China’s plan to ban crypto exchanges delivered a blow to cryptocurrency prices, but not all crypto executives are shuddering. Despite the facts that Shanghai has ordered exchanges within its jurisdiction to close and Shanghai-based BTCC’s plan to suspend trading by the end of September.
As of Thursday, Sept. 14, BTC/CNY had dropped to $3,251 on BTCC, $3,362 on OKCoin, and $3,321 on Huobi. This forced the global average bitcoin price down.
But as Chinese financial regulators finalized the nationwide ban on exchanges by providing leeway to OKCoin and Huobi, the two largest exchanges in China, to operate until the end of October, bitcoin price rebounded from $2,900 to $3,850.
Read more here :
https://www.cryptocoinsnews.com/crypto-executives-see-silver-lining-in-chinas-plan-to-ban-exchanges/Decentralization Can’t Be Stopped
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