So after all the news of regulation on the exchanges in china and the anouncemnet of VIABTC and BTCC closing down would it be a fair assesment to say that miners could be next in the line to be closed down?
Whats your views?
that you need to stop running around shouting 'The sky is falling! The sky is falling!"
China putting regulation and licensing structures in place for all crypto-currencies is A GOOD THING and shows that crypto-coins are being viewed and treated the same as 'Real Money'.
That means:
For exchanges, they must follow globally recognized AML and KYC laws when exchanging coins into fiat.
For exchanges with customer accounts that not only hold ccoins but also fiat, they must hold specified amount of cash reserves.
And then there are ICO's which in many countries are pretty much totally un-regulated stocks and as such are mostly pump-n-dump Ponzi's. Regulations for them should have been laid down long ago...
The regulatory structures are being put in place for OUR protection (well partly at least) and that of hopeful investors funding the ICO's. Interesting how so many folks want the totally-unfettered Wild West type of crypto-markets and yet if they suffer any losses they immediately hunt for legal recourse to get their money back. You cannot have it both ways...
Indeed, it is a good thing that people that want to exchange their fiat for BTC doesn't get scammed by the people setting exchanges and then running with people's crypto, but there's more than that happening in china:
https://pastebin.com/6vKp6rh6This looks like a straight ban to me (if legit). The good news is, it's already priced in, so we can only go higher from now on. I doubt china would ban mining when it's still legal to possess BTC and OTC market happens all day.