China leading the way for a regulated bitcoin

[Amandier]

This will only concern Chinese exchanges. And in case this affect all the exchanges, some day or another, a decentralised exchange will pop-up and will end all this debate.

[timerland]

This will only concern Chinese exchanges. And in case this affect all the exchanges, some day or another, a decentralised exchange will pop-up and will end all this debate.

Im sure that China won't let their citizens to exchange and use bitcoin without any kind of regulations and control.
They might want to create centralized bitcoin in China, just by using law that affects crypto exchanges.
If they would suffer because lack of any exchanges, how it is possible to convert them into fiat?
The only possibility would be to do it on street, personally- face to face.

The thing is that the exchange needs to be somehow connected with the banking system, to transfer the money to their customers right?
I doubt there are buildings where you can personally send btc to the company and recieve cash.

[Victorycoin]

Lol,I'm always fascinated by such claims-how can you exactly regulate BTC-like how exactly will you find a way to regulate it because in my mind it's really hard to find a way to do it-BTC isn't something you can control-or at least not to a such big level.All these claims for me are just attempts to somehow bring BTC down.

Once again China have demonstrated its Communist tendencies, but it is unfortunate Bitcoin is not subject to the territorial integrity of China. This is how they unwittingly undo thenselves and relinguish the little grasp they maneuvred and held on Bitcoin. In recent times, Japanese exchanges have been recording increase in volume of transaction and I see it getting huge from now on. Bitcoin is like air, don't bother to control it, because it goes wherever it would.

[danherbias07]

Looks like they are narrowing the illrgal transactiion.
This is more like a prevention not a regulation. There is too much requirements to be able to use it. Although I do admire that they are taking a bigger step.
But, it is like only those who are residents can use it. There will be holes in this strict rules that they are implementing. It is like telling people not to use bitcoin with that hard tasks.

[talkbitcoin]

haha, again bitcoin price went up and some people missed the chance to buy cheap coins and news like this from China and the old drama of "China wants to control bitcoin" bullshit is starting.
this is old news dude, from day one when PBoC started investigating the Chinese exchanges everything has been clear and as Franky and others mentioned it is the fiat part of the business  that is being regulated.

[machinek20]

I dont see any good thing if goverment try to mixed up into bitcoin business, china government really try to control the bitcoin user, we will see the dropping number of bitcoin user from china if this regulation being implemented, I prefer all of the people in the world can used bitcoin without being interfere by government

[Red-Apple]

what you don't understand now is that the news about China is a very great and positive news. if they regulate bitcoin trading that means  a huge step forward for them and anyone else involved with bitcoin and that will increase the adoption easily.

right now a lot of news users are staying out because government has not yet regulated bitcoin and they are afraid because of it. and when they regulate it they will all rush in and buy bitcoin with a big fear of missing out on bitcoin rise and we see moon