Breaking: Virtual Currencies Expected to be Regulated in China on October 1st

[Doms]

This is not surprising at all considering that the laws have been rather easy on the exchanges the last few years. Rather than banning bitcoin and all other crypto currencies, regulation is the best way to go moving forward. The same might be the case for all other countries where bitcoin usage is increasing in volume by the day. This could also mean less money laundering activities that use crytpo currencies as vehicles for such acts.

[ALT67890]

Whatever China government will do only chinese users/investors/people will suffer. In short let they're government officials decide for what is better for there people and let there citizen march if they opposed to it. It won't affect anymore in the market price as what happened last week. Bitcoin is increasing all the way now and it would be a great and promising start this month of October.

Bitcoin now are back in the market price without China, it shows that we can stand without the contribution of China government towards cryptocurrencies. The news above isn't beneficial to the community because probably only China will take benefits from that. Their plan to take control all bitcoin supply could probably make their decision change against crypto.

“They’re tasting the water”, I mean they tried to make uncertainty toward bitcoin but failed. And now the only option have left is regulating it. They want to control bitcoin and that is the prime intentions of rumours and FUD circulating around last September but the bitcoin community sense it that is why China’s failure is an example to other country that they don’t have the capacity to hold our neck just follow what they want.

[cybersofts]

Virtual Currencies Are Expected to Be Legislated As “Virtual Property” From October 1

Chinese media outlet Jinse.com has reported that laws governing the use of virtual currencies in China will be enacted on October 1st 2017. Jinse states that Chinese cryptocurrency regulations were incorporated into the nation’s “General Principles of the Civil Law of the People’s Republic of China” legislation, which was voted on and passed on March 15th.

Jinse has reported that the General Principles of the Civil Law of the People’s Republic of China, which is expected to come into effect on October 1st, will see Chinese cryptocurrency regulations implemented for the first time. The Jinse report suggests that cryptocurrencies will be treated as “virtual property” under Chinese law. Chinese academic, Professor Deng Jianpeng, stated that “bitcoin, [crypto]currency, etc. can be classified as virtual assets.”


Source: https://news.bitcoin.com/virtual-currencies-expected-to-regulated-in-china-on-october-1st/

Just like other laws,  I thinks there are more flaws in their new laws because of unexperience of the goverment in crytocurrency. But in the end, China will continue this regulation and hopefully the market be stable. Been waiting for the bitcoin to rocket again thsi last quarter.

I think that is left for the China to decide in which world they are living now. Bitcoin will thrive with them or without them
By now they have realized their mistake because bitcoin made more people richer more than anything in China and anything they've ever created!
Saying they banned cryptocurrency exchanges and ICOs in China is almost like banning electricity or mobile phones for their people as investors.
Lucky for them they got their senses back so early... LOL