To have a better understanding of the present legal supervision environment and avoid risk ,as a lawyer many years , I give my individual point to everybody :
Question :Can Chinese bitcoin trading platforms run their companies according to the government ?
Answer :No !Now that the government published the announce ,but it cant control you and tell you what you should do clearly .Of course ,nobody dare to be responsible for it ,even government .To bitcoin and other newly thing ,the government generally takes supervision measures .
Question :Which direction is Chinese supervision policy within 1~2years ?Will it replace trading platforms ?
Answer :As the law ,the running way of Chinese bitcoin platforms is absolutely illegal .But why did central bank of China not replace it immediately ?It must be the law is too serious and should be revised as soon as possible .Meanwhile ,China supports newly thing and innovation firmly .Maybe it’s the legislation now :legislate a principled law (or difficult to execute )first ,then execute as the reality .
If central bank of China is ready to replace trading platforms ,then closing bank accounts first may decrease the negative effect .And if the activity from trading platforms refers to money laundering ,gamble ,cheat ,funds transference and so on ,replacement will be appear later .
Question :Will China announce that it’s illegal for individuals and organizations to own bitcoin ?
Answer :To bitcoin ,it will not happen within 1~2years .First ,central bank OF China has expressed its attitude towars bitcoin clearly .Meanwhile ,if central bank of China wants to replace bitcoin ,now it can do completely ,but it doesn’t .Moreover ,now that more serious danger happens ,it can ban through technological way ,including closing wallet and websites .nIn addition ,support bitcoin application and limit bitcoin trading platforms development is different .
Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can correct it.
