[2017-10-6]China Will Likely Resume Cryptocurrency Trading

[Bram 666]

The Chinese government will likely resume cryptocurrency trading in the upcoming months with necessary Know Your Customer (KYC) and Anti-Money Laundering (AML) systems in place.

Earlier this week, Xinhua, the state-owned news publication of China, revealed that the Chinese government is concerned with criminal activities surrounding cryptocurrencies such as bitcoin. It emphasized that cryptocurrencies have become the “top choice” for underground economies and revealed that the government will take appropriate measures to regulate the market by implementing a licensing program and strict AML systems.

source :https://www.cryptocoinsnews.com/china-will-likely-resume-cryptocurrency-trading-by-licensing-bitcoin-exchanges/

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[InvoKing]

The Chinese government will likely resume cryptocurrency trading in the upcoming months with necessary Know Your Customer (KYC) and Anti-Money Laundering (AML) systems in place.

Earlier this week, Xinhua, the state-owned news publication of China, revealed that the Chinese government is concerned with criminal activities surrounding cryptocurrencies such as bitcoin. It emphasized that cryptocurrencies have become the “top choice” for underground economies and revealed that the government will take appropriate measures to regulate the market by implementing a licensing program and strict AML systems.

source :https://www.cryptocoinsnews.com/china-will-likely-resume-cryptocurrency-trading-by-licensing-bitcoin-exchanges/

Was about to post the same thing before searching for a similar content.
The interesting thing is that the Chinese start to think again about resuming the trading. They have to implement changes before shutting down exchanges. We will see what will happens to huobi and okcoin first...

[deadsilent]

As usual. China is just playing games with us. They are gonna regulate all exchnages there. They should have done that earlier. I don't believe their dramas. I dont believe they are going to ban cryptocurrency there permanently as Japan surpassed them as the biggest cryptomarket. China dont wanna left behind whe their neighbor countries are taking a huge part for bitcoin progress. They are just trying to manipulate it's price to get some bitcoin. Japan just issued licence for their local exchanges. They didn't even interrupt the exchanges operations there. They act so fast.

[BitHodler]

People believe it's a complete ban on trading, but I from the very first moment knew that it was nothing more than a temporary measure. It's obvious that China didn't expect this market to boom so hard this year.

If the boom didn't happen, China would likely not force through the ban in the same way, but it is what it is ~ there isn't really a point into speculating about what might or might not have happened without the increase of this year.

Quite some people were hoping for China to completely withdraw itself from the crypto industry, but that's obviously, and at the same time unfortunately not going to happen ~ we have to accept it and move on.

[Snaic]

This all confirms that China was not going to leave the international market of crypto currency and completely prohibit its circulation in their country. China has too long considered and gave up its place as the leader in the field of Japanese crypto-currency. They first had to develop measures to counter risks and abuses, and then introduce their own restrictions, or simply change the rules of the game for cryptovata. And so long thought, but time is gone.

[Benezim]

Is anyone really surprised about this? It was just another Chinese play to shake out weak hands and get a better grip on cryptos in China. China will not be able to stop cryptocurrencies, but they want to secure a piece of the pie.

My predictions
1) China will come up with new restrictions that first and foremost complicate matters for the general population (other than KYC, I could imagine a requirement in which Chinese nationals trading on Chinese exchanges clearly need to document gains / losses in crypto. Not sure to what extent convertibility of the Renminbi will be on their agenda, they are anyway planning on loosening regulations until 2020)
2) Banks will play a major part in the newly regulated crypto sphere.
3) Once the new regulations are in force, we'll see a major flow of Chinese money back into crypto (at least +20% on BTC within a month)

[Gaos]

This all confirms that China was not going to leave the international market of crypto currency and completely prohibit its circulation in their country. China has too long considered and gave up its place as the leader in the field of Japanese crypto-currency. They first had to develop measures to counter risks and abuses, and then introduce their own restrictions, or simply change the rules of the game for cryptovata. And so long thought, but time is gone.

The Chinese government is playing a very cunning game. It specifically manipulates the price of the crypto currency. Probably, someone is very profitable. I'm already tired of hearing about this. I hope that in the future the influence of China on bitcoin will significantly decrease

[jyakulis]

pussies, and i thought they were totalitarians.

[alfaruq]

Currently the world with the use of cryptocurrency is growing, many predictions China will legalize and re-enter into industry cryptocurrency. If this happens, it will greatly affect the price of the bitcoin that had previously dropped due to the closing of the bitcoin exchange inChina. Future bitcoin prices will get higher as time goes by.