This link has the latest development of China's cryptocurrency ICO and Exchanges crackdown:
https://www.reddit.com/r/NEO/comments/6z21dk/china_the_middle_kingdom_of_fud/Follow to keep yourself posted.
Below was copied from above link and credit goes to
https://www.reddit.com/user/AlexiosI***************
I'm posting this as a Clearinghouse of information over the new China FUD. There are very real concerns regarding the press reports coming out and a ton of uncertainty, so the point of this thread is to definitively get to the bottom of this news. If you are a Chinese national or Fluent Mandarin speaker familiar with Chinese crypto news, we badly need your input on what is going on with the current uncertainty over Crypto exchanges in China. If you clicked on this to simply shill from the mountaintops for NEO, please go elsewhere. We get there are many people invested in the currency on this subreddit and you believe in it. But this is a place for reasoned, sourced discussion...not feelings and emotion.
There has been a swarm of difficult to understand, poorly sourced and often contradictory information over the past 24 hours regarding Chinese government policy toward Cryptocurrency exchanges. It all started with this difficult to translate article posted on Caixin:
http://finance.caixin.com/2017-09-08/101142797.htmlI don't speak Mandarin even close to fluently and the Google translation of the article leaves an enormous amount to be desired in terms of actual comprehension. Still there are a number of alarming statements in the article regarding the Chinese exchanges.
The Western media has divided into the predictable camps over the report. Mainstream media outlets like Reuters, CNBC and Bloomberg ran scary, toldjaso headlines reinforcing their typical coverage of crypto as a volatile fad the kids are into. Although still admitting that the story was just based on the Caixin report.
The more mainline crypto blogs like Coindesk, Coin Telegraph etc stressed their uncertainty as to the meaning of the news and how it was not confirmed by anything other than the Caixin article at this point.
The user generated boards have been screaming that it is Fake News and a false story. However the markets remain in limbo. They have not crashed to the point that the loss of Chinese volume would seem to precipitate, but they have yet to regain the loss from the initial report. This is particularly true for NEO. So FUD reigns supreme at the moment.
As for the exchanges:
Binance has posted it will stop trading for Chinese IP addresses entirely. Not a good sign.
https://binance.zendesk.com/hc/en-us/articles/115001444731-Binance-Update-2017-09-06 However this news came out on September 6, not yesterday.
Jubi similarly had delisted NEO (Antshares still on its exchange) before the reports broke. Jubi was charging 1 Full NEO to withdraw the currency from the Exchange, so I don't know who in their right mind would buy on there anyways.
OKCoin has nothing about the domestic ban on their website. But did post this odd warning which is irrelevant to the discussion but kinda funny "We have implemented additional compliance and sanction controls. We are sorry to inform you that we are unable to service as you may be from the following countries: North Korea, Syria, Iran, Sudan, Bangladesh, Bolivia, Ecuador, Kyrgyzstan and the USA. If you feel that we have miscategorized you, please contact our 24/7 customer service representatives. OKEx Team"
Huobi currently has nothing about the FUD in its site.
Yuanbao has put a "Risk Warning" on their website, which translated from Chinese reads: "risk warning Digital currency transactions have a high risk (pre-dug, soaring, bankruptcy, bankruptcy, team disbanded, technical defects, etc.), according to the five ministries "on the prevention of bit currency risk notice", ingot only for digital money lovers A free online exchange platform, the value of the investment value of the currency does not bear any review, guarantee, compensation liability, if you can not accept, please do not trade! Thank you!"
This story is obviously developing over the weekend. Please add thoughtful, sourced content and opinions to the thread so we can try to figure out what is actually going on.
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Most important reply as at 9Sep2017:
AreWeOkay: Tencent has also confirmed the news about CYN.
https://translate.google.com/translate?hl=en&sl=zh-CN&u=https://view.inews.qq.com/a/FIN2017090808516703%3Ffrom%3Dsinglemessage%26isappinstalled%3D0&prev=search
