[2016-08-25]China Issues Harsh Regulations For Peer-to-peer Lending

[BTCBinary]

China Issues Harsh Regulations For Peer-to-peer Lending

Peer-to-peer lending has always been a very popular trend in China. That is not entirely surprising, as the country is keen on innovation and embracing new trends. But there have been a fair amount of problems with P2P lending in China over the past few months. New rules have been announced, which will put a vice grip on this innovative business model...

http://www.newsbtc.com/2016/08/25/china-issues-harsh-regulations-peer-peer-lending/

[jvper]

Policymakers are protecting banks... Lots of money involved on this decision...

[gentlemand]

'These new regulations will also have an impact on Bitcoin in China. Since cryptocurrency does not fall under these regulations, it may become the new peer-to-peer lending option.'

Bitcoin is a fucking terrible medium for p2p lending. All you have to do is check out the loan section here or shitholes like BTCjam to figure that out. The volatility is going to wipe out someone on one side of the trade.

And if it did suddenly become the new thing for it, the government will come down like a ton of bricks.