[2017-01-13] China's Bitcoin Exchanges Quietly Made Policy Updates Overnight

[ChrisPop]

"China's major bitcoin exchanges halted, or otherwise updated, their lending-based bitcoin trading services today.

First reported by China-based bitcoin traders and market observers this morning, BTCC, Huobi and OKCoin appear to have quietly adjusted their terms, though only BTCC had moved to issue a formal comment confirming the changes.

Bobby Lee, CEO of BTCC, acknowledged that changes to the exchange's service were being made in response to interactions with the People's Bank of China, the country’s central bank, though he stopped short of saying that the service had been terminated or disabled."

http://www.coindesk.com/china-bitcoin-exchanges-trading-policy-updates/

[panju1]

You can't expect things to remain unchanged when the PBOC gets involved.
Suspending loans and borrowing services looks like the PBOC wants the market to limit leveraged trades and cool it down a bit. The exchanges have obliged.

[Kakmakr]

...exchanges received "informal guidance" from the PBoC. No no no, they told them to stop loaning and borrowing money for margin trading, because people will lose money and the government will be blamed. They will use all the excuses in the book to protect capital flight and to protect their local currency.

The Chinese can expect more intervention from the PBoC, because they have been operating recklessly, like the days in the wild wild west. < damn cowboys > ^smile^

[darknetmarkets.co]

You can't expect things to remain unchanged when the PBOC gets involved.
Suspending loans and borrowing services looks like the PBOC wants the market to limit leveraged trades and cool it down a bit. The exchanges have obliged.

You are right! Other countries are going to learn from China and involve their government not just in the mining of coins, but definitely investing in the utilities that perform the mining. Regardless that the value has returned to earth since its New Years surge, BTC is making an impact and China has much to do with it.

[notthematrix]

Limiting leveraged trades  is not so bad , you have to proof you own the Bitcoin you trade!
leveraged trades  is imposible in bitcoin because you can NEVER make extra bitcoins outside the system , this is different to gold and fiat currency.
the nuber of bitcoins is KNOWN....

further wondering is china trading market cap really that big?
It seems not!
https://t.co/5D1AqVtQYN

[veleten]

this is why the see so much uncertainty on the markets
after the correction the price can and is going down
chinese exchanges and the news that directly influence exchanges and trading are the main price formers nowadays
lets wait 20th of January with both megaupload and Trump's inaguaration
that could affect bitcoin price

[notthematrix]

this is why the see so much uncertainty on the markets
after the correction the price can and is going down
chinese exchanges and the news that directly influence exchanges and trading are the main price formers nowadays
lets wait 20th of January with both megaupload and Trump's inaguaration
that could affect bitcoin price

it will swing ,but will go up ganeraly because of demand vs suppley.

[Slark]

So it seems what Chinese exchanges really will do is suspend loans and borrowing services from 12th January, 2017.
Limiting margin options is not that problematic for me, basic Bitcoin trading wasn't affected at all.

[buwaytress]

Just to note, the exchanges are not China's, they are merely China-based or Chinese.

Also, I do feel this has little to do with government intending to regulate crypto, this is quite a straightforward case of regulating trading. Not everything is a conspiracy against crypto.

[bosian]

time to control illegal money flowing out of the country...

[notthematrix]

Just to note, the exchanges are not China's, they are merely China-based or Chinese.

Also, I do feel this has little to do with government intending to regulate crypto, this is quite a straightforward case of regulating trading. Not everything is a conspiracy against crypto.

exactly you can only trade with bitcoin you OWN....
that they want to limit naked leveraged of chain bitcoin trade is logical!
the network does not allow such trade.

[faradayz]

Just to note, the exchanges are not China's, they are merely China-based or Chinese.

Also, I do feel this has little to do with government intending to regulate crypto, this is quite a straightforward case of regulating trading. Not everything is a conspiracy against crypto.

exactly you can only trade with bitcoin you OWN....
that they want to limit naked leveraged of chain bitcoin trade is logical!
the network does not allow such trade.

China has been known for regulating trading, lending and cryptocurrencies are not an exception as well, I guess nothing much can be done but I, too do not view this is a conspiracy against bitcoin but merely how things work in china.

[macedoniantable]

You can't expect things to remain unchanged when the PBOC gets involved.
Suspending loans and borrowing services looks like the PBOC wants the market to limit leveraged trades and cool it down a bit. The exchanges have obliged.

You are right! Other countries are going to learn from China and involve their government not just in the mining of coins, but definitely investing in the utilities that perform the mining. Regardless that the value has returned to earth since its New Years surge, BTC is making an impact and China has much to do with it.

Regulation from all sides and in every country from what they are seeing is going on in China!
Maybe Trump will save US from this cause he blames China for everything bad that is happening in the economy and free market capitalism!

Limiting leveraged trades  is not so bad , you have to proof you own the Bitcoin you trade!
leveraged trades  is imposible in bitcoin because you can NEVER make extra bitcoins outside the system , this is different to gold and fiat currency.
the nuber of bitcoins is KNOWN....

further wondering is china trading market cap really that big?
It seems not!
https://t.co/5D1AqVtQYN

China is the master manipulator of all foreign markets and it will make chaos of bitcoin on this side of the world! Trump has to stop them from doing this and keep work and money in North America. Build the wall of Mexico to keep them out and a economic wall to keep Chinese investors from buying up anything land, cars, gold and bring in money across US borders.

[notthematrix]

China is the master manipulator of all foreign markets and it will make chaos of bitcoin on this side of the world! Trump has to stop them from doing this and keep work and money in North America. Build the wall of Mexico to keep them out and a economic wall to keep Chinese investors from buying up anything land, cars, gold and bring in money across US borders.

China can not manipulate coins it DOES NOT have....
The coins chinese people have they can only spend ONES! , so if they use them to dump the price.
and other people think ah nice cheap coins , china can not force me or anyone to sell them back the coins!
That's the fundamental difference between Bitcoin and fiat...
YOU CAN NOT CREATE EXTRA COINS TO INFLUENCE A MARKET!
21.000.000 will be it for ever...
that rule nobody can change