China to close all bitcoin exchanges by end-September: Yicai

[hridoyb]

 China plans to shut the country’s bitcoin exchanges by the end of September, Chinese financial news outlet Yicai said on Thursday, citing sources.Bitcoin can solve this problem?We are know lot of scam ico in cryptopia currencey world.If China was banning Bitcoin, they would ban the Bitcoin MINERS like Chinas "Bitmain", NOT the exchanges, because the miners are the source.what are thinking about it?

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[Yasirmrd]

According to other exchanges operating in china they do not receive any instructions from Central Bank of China. In my opinion these are only rumors which drop the price of bitcoin. Till now the only official news is that china has banned fundraising for ICOs but I do not read anywhere that it banned Bitcoin. I suppose that china is going to regulate bitcoin and will not ban it.

[tiggytomb]

It is not qute clear what's happening, I think there is a lot of fear mongering as the only thing I have seen for sure is that ICOs have been banned.

[care2yak]

At the moment, only two exchanges have announced their closure on Sept. 30th. That BTC China, and ViaBTC. Are there any other Chinese exchanges that expressed the same?

[kenkoy]

China plans to shut the country’s bitcoin exchanges by the end of September, Chinese financial news outlet Yicai said on Thursday, citing sources.Bitcoin can solve this problem?We are know lot of scam ico in cryptopia currencey world.If China was banning Bitcoin, they would ban the Bitcoin MINERS like Chinas "Bitmain", NOT the exchanges, because the miners are the source.what are thinking about it?

I agree with you. China should ban the miners and only the scam ICO. They should regulate laws filtering scam ICOs from the legit ones. Either they are spreading FUD or they are just afraid of the great potentials of Bictoins. I think some bankers there may have also triggered that decision of China.

[passivebesiege]

I cannot decide right now if i will sell my BTC or not   i  will wait for more news before selling mine but i still stongly believe in BTC even if china will ban it  but to be honest if this  things happen this will  be a huge impact in the market.

[VitKoyn]

China plans to shut the country’s bitcoin exchanges by the end of September, Chinese financial news outlet Yicai said on Thursday, citing sources.Bitcoin can solve this problem?We are know lot of scam ico in cryptopia currencey world.If China was banning Bitcoin, they would ban the Bitcoin MINERS like Chinas "Bitmain", NOT the exchanges, because the miners are the source.what are thinking about it?

Lots of fake news spreading everywhere and I don't know what's really happening now, some said China will ban all exchanges some said it will not and will just temporary and will continue after making new rules and regulations. The price of Bitcoin continues to fall but I really don't care I will just hold my bitcoins until the price in the market recovers.

[Carlsen]

China plans to shut the country’s bitcoin exchanges by the end of September, Chinese financial news outlet Yicai said on Thursday, citing sources.Bitcoin can solve this problem?We are know lot of scam ico in cryptopia currencey world.If China was banning Bitcoin, they would ban the Bitcoin MINERS like Chinas "Bitmain", NOT the exchanges, because the miners are the source.what are thinking about it?

Unfortunatelly at this point we must assume there is more to the story. No exchange closes on its free wiill. There must have been pressure.
Going against the miners that is nothing China wants. China wants to stop the capital flight out of the country.
And the local fiat is converted into bitcoins at local exchanges, that is why they go against the exchanges.
The miners can sell their coins mined in China at foreign exchanges, that would bring money to China. Bringing money into the country, that is very welcome by the government in China.

[stompix]

And do we have a link to this "Yicai" source? First I read yokai and if I remember correctly that means demon or monster in japanese.
We certainly had a lot of FUD around here about bitcoin getting banned so even a google translate would help a lot.
Although I have to point out even the article claims as you said to cite sources.What kind of sources.

I'm still waiting for an official document release from either the National Bank or the Chinese Government.

[talkbitcoin]

this is great news but i hoped they did it sooner than later because the sooner we get this chapter in bitcoin's history over with the sooner we can get back on track with other more important things.

Chinese drama is just a distraction that is preventing us from moving on with important matters such as more adoption. these days everyone is just talking about price all day long!

[Rinaze]

Okcoin and Houbi are meeting up with the Chinese regulators today and high chance they will be asked to shut down their operation like BTCChina and ViaBTC by the end of this month.

[tengek37]

I do not think China needs to close all bitcoin transactions if only seeing that bitcoin could be a way of money laundering or other criminal acts. Why not make laws that deal with bitcoin transactions and possible criminal acts.

[kpcian]

I don't think that China will close all Bitcoin exchange by the September. already they have made up their mind to ban Bitcoin. you can ban Bitcoin but you can't stop the exchange system. so it will be a difficult task for their market because a lot of Chinese people are doing business on this platform so they will do not as like...

[care2yak]

Saw this just now.... https://cointelegraph.com/news/breaking-all-chinese-bitcoin-exchanges-must-close-by-september-30

[mrBTCman]

Seems they already found the way out  https://news.bitcoin.com/major-chinese-exchanges-launch-p2p-trading-platforms/