BTCC extends freeze on Bitcoin and Litecoin withdrawals and more regulation

[john_connor]

http://imgur.com/eYdvYJG. Source: https://www.btcchina.com/, click on "Update on BTCChina Bitcoin and Litecoin Withdrawals".

Also relevant: http://news.8btc.com/btcc-latest-move-indicates-more-regulation-on-the-way

[Undermood]

The gov are enforcing strict regulations on cryptocurrency business. It is not kind of bad news. The price is still stable.

[Hazir]

1. Price is stable because Chinese traders will probably use p2p trading exchanges from now on.
2. BTCC is the latest exchange affected with withdrawal freeze, traders had time to withdraw earlier.
3. Traders are no longer sure that Chinese exchange prices show the true cost of Bitcoin, they use Bitfinex to determine price.

[Red-Apple]

this is actually good news, despite the fact the people don't see it that way right now.

a regulated exchange service is always much more trusted than a non-regulated one. they also have less risk of running away with your money and that alone makes these services a lot better.

and all these new perks mean more people will start using the exchange service and that will bring in much more money and price will rise much faster and a lot higher.

it is similar to Forex,