China bans exchangers / China exchangers CLOSED

[Ale88]

China is playing a lot of pranks these days. First ICO ban, now Bitcoin exchanges ban. Someone is making a lot of money with this.

And for the second time in a row it happens during the weekend time, quite a coincidence 

[blacklig]

Oh well the news was fake,  It is a FUD to shaken weak hands.  Some of exchanges in china stated that they are operating fine.  We really cannot rely on the internet news alone without verifying it to the sources,  I hope not many people fall to this trick and sold their Bitcoin to the grinning whales.  Looks like Bitcoin will be bullish and be on uptrend price again    We can see it on the desperation to FUD Bitcoin market.

How do you know it was fake? Yes, sources are scare, only one, but is there any source that proves opposite?
OK, exchanges are only saying they did not receive anything official.. because it is saturdays morning in China, I expect them to receive it on monday/tuesday, and that time probably even chinese central bank made its announcement. For now news on caixin are the only source of this bad news, but do you think owners of this big media are FUDing? If they did, they could gain some short term, but could face some lawsuits as well and would lose tons of credibility.. I dont think this media would spread FUD..

[blacklig]

Only the direct CNY to crypto exchanges, trading itself isn't banned.  Reikers also commented that they contacted the primary exchanges effected by it and said they haven't heard anything about it.

Translation of yunbis page, they are stating:

Through the study of the People's Bank of China and other seven ministries "on the prevention of tokens issued by the risk of financing," the spirit of the policy, the coin network in the careful discussion decided to use all the ICO way off the block chain asset transactions. The block-chain assets currently traded are QTUM, GXS, EOS, ANS, DGD, 1ST, GNT, REP, SNT, OMG, PAY, LUN, VEN. The chain-chain assets that are about to resume trading include: BTC, ETH, ZEC, SC, BCC, ETC, BTS. Announcement details please see: part of the block chain assets off the assembly line notice

So those are impacted by ICO ban? Even OMG? Those guys were trolling they are safe and OMG pumped after it like hell..

[FelixTheHat]

China is playing a lot of pranks these days. First ICO ban, now Bitcoin exchanges ban. Someone is making a lot of money with this.

And for the second time in a row it happens during the weekend time, quite a coincidence 

The ICO ban was on Monday, and was more official. This was based on hearsay, and happened late Friday night, which really is suspicious timing.

[Rahar02]

The challenge is here for traders, not for true holders  
Traders always looking for profits, and this China news really a good speculation to dump whatever you have and buy back later when bitcoin fall to the bottom line. There's no any legit news report about China government really ban bitcoin and it's impossible I guess, so better to keep your bitcoin safe (for holders) and prepare to buy more cheaper coins if bitcoin price will fall even further. It's discount time.

[Argon2]

This is a lie.

Chinese FUD always falls on a Friday...

There is ZERO proof that China intends to shutdown any exchanges except some obscure article written by some unknown persons... The whales are taking your money and you believe it's china!!

[BitcoinPanther]

The challenge is here for traders, not for true holders  
Traders always looking for profits, and this China news really a good speculation to dump whatever you have and buy back later when bitcoin fall to the bottom line. There's no any legit news report about China government really ban bitcoin and it's impossible I guess, so better to keep your bitcoin safe (for holders) and prepare to buy more cheaper coins if bitcoin price will fall even further. It's discount time.

Yeah it seems there are lots of happy traders waiting to take advantage on Bitcoin Dip this weekend.  Probably chinese traders will be challenged on this one if the news is true.  but so far there is no actual confirmation  from the exchanges that they received a news (not noticed) about China will close bitcoin exchanges.

This is a lie.

Chinese FUD always falls on a Friday...

There is ZERO proof that China intends to shutdown any exchanges except some obscure article written by some unknown persons... The whales are taking your money and you believe it's china!!

Whales are really using every dirty tactic in the book just to get more bitcoin from the shaken weak holders.

[pugman]

Great move I should say that China took all those people who are involved in the shady shit will have a chance to no longer do shady business and stuff. And maybe this will now cause bitcoin's price go down a little but it should recover soon if some other issues don't rise because,God knows what will be China 's next move against crypto currency.

[aaron2024]

China is playing a lot of pranks these days. First ICO ban, now Bitcoin exchanges ban. Someone is making a lot of money with this.

And for the second time in a row it happens during the weekend time, quite a coincidence 

The ICO ban was on Monday, and was more official. This was based on hearsay, and happened late Friday night, which really is suspicious timing.

Yeah, the problem was the media making it look like it was the end of ICOs, while the ban list had ICOs that few people heard of.

[Oclock]

Probably an excellent decision!

[anon4250158]

What source would be considered reliable?  What is currently the most reliable information about China cracking down on exchanges?  So today's big market downswing happened only because of the rumor mill?

[adzino]

it seems that all the chinese exchangers will be closed for a while. it's a normal decision because they made so many illegalities (willy bot, market manipulation and so on).  


http://m.finance.caixin.com/m/2017-09-08/101142797.html

That means Okcoin, BTC china, Huobi and many others will be closed. "the plague" begins to be cleaned

Caixin was the first one to report on the ICO ban before the official documents came out so, they should be credible

They haven't banned any exchanges yet and are still considering. We are seeing the price drop cause chineese investors are try to exit before they get locked out from exchanges. Lets see what happens to the price when they officially put a ban on exchanges.

[marky89]

What source would be considered reliable?  What is currently the most reliable information about China cracking down on exchanges?  So today's big market downswing happened only because of the rumor mill?

The most reliable source is the Chinese government and the central bank, the PBOC. They just released the official announcement. This was all just FUD. The new regulations, as expected are simply aimed at ICOs. Chinese exchanges that engage in ICO-related activity will be shut down and have their licenses revoked.

This should therefore have no effect on the major exchanges like OKcoin and Huobi, which only deal in cryptocurrencies, not tokens. The future is less clear for the many smaller Chinese altcoin exchanges which offered tokens.

Source: http://www.pbc.gov.cn/english/130721/3377816/index.html

[cashodler]

What source would be considered reliable?  What is currently the most reliable information about China cracking down on exchanges?  So today's big market downswing happened only because of the rumor mill?

The most reliable source is the Chinese government and the central bank, the PBOC. They just released the official announcement. This was all just FUD. The new regulations, as expected are simply aimed at ICOs. Chinese exchanges that engage in ICO-related activity will be shut down and have their licenses revoked.

This should therefore have no effect on the major exchanges like OKcoin and Huobi, which only deal in cryptocurrencies, not tokens. The future is less clear for the many smaller Chinese altcoin exchanges which offered tokens.

Source: http://www.pbc.gov.cn/english/130721/3377816/index.html

They havent release shit, what u post is just an English translation of the ICO news that is from Monday. Nothing new.

Accept the terrible truth, lol, that was confirmed by ViaBTC CEO.

[gfunk]

This is complete BS. It was clickbait, the Chinese didn't fall for it but we did. I bet whoever wrote that article just bought a huge amount of BTC in the crash.

[RamBahadur.Gurung]

Great move I should say that China took all those people who are involved in the shady shit will have a chance to no longer do shady business and stuff. And maybe this will now cause bitcoin's price go down a little but it should recover soon if some other issues don't rise because,God knows what will be China 's next move against crypto currency.

Do you believe that all the Bitcoin users are shady? If you think like that, then you don't belong here. May be 1% or 2% of them are using Bitcoins for tax evasion and other criminal purposes. But what about the remaining 98% of the people. Many of them just want to save their wealth, from the devaluation of the Chinese Yuan.

[marky89]

What source would be considered reliable?  What is currently the most reliable information about China cracking down on exchanges?  So today's big market downswing happened only because of the rumor mill?

The most reliable source is the Chinese government and the central bank, the PBOC. They just released the official announcement. This was all just FUD. The new regulations, as expected are simply aimed at ICOs. Chinese exchanges that engage in ICO-related activity will be shut down and have their licenses revoked.

This should therefore have no effect on the major exchanges like OKcoin and Huobi, which only deal in cryptocurrencies, not tokens. The future is less clear for the many smaller Chinese altcoin exchanges which offered tokens.

Source: http://www.pbc.gov.cn/english/130721/3377816/index.html

They havent release shit, what u post is just an English translation of the ICO news that is from Monday. Nothing new.

Accept the terrible truth, lol, that was confirmed by ViaBTC CEO.

What truth? Show me the announcement. So far, they only cared to clarify their stance on ICOs. How do we even know there is another announcement coming? You've got nothing here but rumors and Twitter shitposts regarding the exchanges.

I'm looking at the Okcoin ticker chugging away. There's been no confirmation of any of these rumors after another day. And now I'm supposed to care about a cryptic tweet from Haipo Yang, really?

Samson Mow was right: the PBOC is not shy. They will make an announcement if there is one to make. Exchanges are running as usual and say they have heard nothing.

Also, the exchanges voluntarily showed that they were extremely compliant -- to the extent of freezing customer funds for months -- in order to please the PBOC this year. More than anything, this just looks like the PBOC "leaks" in 2014 about banning Bitcoin, etc. which turned out to be false.

[mayax]

Probably an excellent decision!

a very good one ! 

[ScriptYoYo]

China can not completely prohibit bitcoin. They can prohibit the exchange in which their national currency participates. But they will not be able to track the exchange of bitcoin and currency from electronic payment systems

[Btcvilla]

That's fine by me, for two reasons.  One, I don't live in China, nor do
I use Chinese exchanges.  And two, those are some of shady businesses
known to man. They should be illegal and I'm not sorry China is
cracking down on them.  I won't call myself pro government by
any means, but the exchanges need some regulation.  This paves
the way for that.

I agree with you. no loss for me personally. as long as bitcoin is still popular, chinese will not have too much effect on bitcoin.