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Author Topic: Will bitfinex be affected by China shutting down exchanges?  (Read 251 times)
TheGodson
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September 15, 2017, 07:35:03 AM
 #1

So I'm reading on Google:

"Bitfinex is a crypto-currency exchange trading and currency-storage platform based out of Hong Kong and owned and operated by iFinex Inc. Since 2014, it has been the largest Bitcoin exchange platform, with over 10% of the exchanges' trading."

So should I be taking my money off this exchange since China is closing down exchanges based in their country. I mean, Hong Kong is kind of China, but also kind of not. I'm not sure if Bitfinex is included in this.


Guys, I've been having second thoughts. I think we are in a massive bubble and Bitcoin could collapse to sub $600. I'm too afraid to sell though, because I know I'll hate myself if it shoots back up.

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September 15, 2017, 07:38:56 AM
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Hong Kong has own regulation laws, thats why offshore banking is possible there. They have made a contract with the mainland china and is a autonom place with own regulated laws until 2055 ( till there the offshore laws wont change also the company registrations )

so i dont think its affected



they are in the blacklist of offshore locations worldwide according to ( OECD ) as they are not cooperating for the worldwide transparence to non-citizien clients of the offshore accounts. the cashflow daily multiple times  higher than the whole bitcoin marketcap.

they wont change anything
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September 15, 2017, 07:42:46 AM
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Hong Kong has own regulation laws, thats why offshore banking is possible there. They have made a contract with the mainland china and is a autonom place with own regulated laws until 2055 ( till there the offshore laws wont change also the company registrations )

so i dont think its affected

This indeed should be the case. HK is a world financial centre because of its independence from Chinese regulation. The Chinese government would be very unlikely to put that reputation at risk over crypto currencies.

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