Truth in Chinas regulation and temporary halt of bitcoin exchanges

[xdev]

Either everyones conspiring to make some serious cash or we have to face the consequence that there might be truth in the recent reports about temporary closure and regulations of Chinas exchanges

https://twitter.com/brucefenton/status/907683972687286272
https://twitter.com/AriDavidPaul/status/907067579180732417
https://twitter.com/TuurDemeester/status/907558202182696960

Three sources that all deem there to be some "truth" in the recent Bloomberg report

[exstasie]

The Chinese government and Jamie Dimon are just jawboning the crypto markets so their kids can enter at a better price than you.  This is how the rich get richer, and why YOU are not in the club.  

FACT:
http://www.zerohedge.com/news/2017-09-12/dimon-doubles-down-my-daughter-bought-bitcoin-it-went-now-she-thinks-she-genius

You cannot move the market, but rich folk can.

Citing ZeroHedge conspiracy theories as fact: hilarious. Maybe there is a grain of truth to that, but I think it's more likely that a) the Chinese government is very worried about capital flight and the difficulty in linking identities to cryptocurrency transactions and b) Jamie Dimon was just piling on the FUD given the existing market uncertainty around China.

He's been dropping FUD bombs on Bitcoin since what, 2012? Nothing new here, and I don't think it necessarily means he's accumulating. Just as likely that he wants to teach his Bitcoin-investing daughter a lesson.

[LeGaulois]

It has been clearly explained by China institution on Chinese TV yesterday. People are making it like if the WW 3 started. It is temporary China is not going to ban anything, China just wants to regulate ICO and ICO only. And it is something that you need to be used too, as I think more country will follow the same path

[exstasie]

It has been clearly explained by China institution on Chinese TV yesterday. People are making it like if the WW 3 started. It is temporary China is not going to ban anything, China just wants to regulate ICO and ICO only. And it is something that you need to be used too, as I think more country will follow the same path

That's not what yesterday's statement from the National Internet Finance Association of China (NIFA) indicated. They are a national self-regulatory agency created by the PBOC. They stated that the next regulatory step is not only to emphasize the prohibition on ICOs, but to strengthen regulatory supervision of cryptocurrency exchanges. It's not clear from their statement whether exchanges would need to close while applying for the proper licenses. But it does seem clear that there is no intention to permanently shut down the exchanges.

See here: https://news.bitcoin.com/chinese-bitcoin-exchanges-may-face-stricter-regulation-and-licensure/