A ban on trade in China

[Davidbee]

I don't know the accuracy of your message, I don't know your sources, if this is true, then falling currency could explain the today, I am very sad, this is not a good news for the currency

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[Snail2]

We've got too many "professional traders" from the stock/forex markets recently. These guys are still thinking in stock/forex terminologies and they believe that a state ban is something like the end of the world. SK banning BTC trade? Actually who cares? There are plenty of other exchanges. All states across the world banning all crypto trade? Who cares? We can switch to one of the existing distributed marketplaces and all the governments across the world can roll their bans into nice tight and hard paper rolls and go to fck each other or themselves with it. This is the nice part of crypto, governments have no way to control your money.

[anelenaniku]

The Chinese authorities will block all platform for cryptocurrency trading.

Previously, China has closed all major cryptocurrency exchanges under the jurisdiction of the country, however, according to the authorities, this is not enough, and they plan to block access to local and offshore platforms that allow for centralized manufacturing. It is reported Bloomberg citing sources familiar with the situation.

Last year the authorities decided to close the cryptocurrency exchanges under the jurisdiction of the country. However, she was recently seen increased activity on alternative venues. The sources Bloomberg did not specify how the authorities will define such platform.

If they ban all the centralized platforms , won't be a problem, decentralized ones will do the job. Cryptos cannot be panned easily

[DannyHamiltom]

Is this the reason why all the COINS and bitcoins have fallen in the past few hours? Why didn't I know the news in advance so that I could reduce some of the losses?

[fancyico1]

I've read reports that China caused the recent #cryptocurrency market correction.

For those who have not had the chance to gain access to WI-FI since September 2017, China banned cryptocurrency trading 4 months ago. It has close to 0 volume. What impact does China have now?

[aoluain]

They're coming hard for peer-to-peer platforms, such as LocalBitcoins. It is sad to be honest to look at these attempts.

From what i believe people are still using crypto currencies even though there is a clampdown.
Crypto cannot be stopped, people will always find a way to avoid rules and regulations.
It looks today like the news coming out of s.korea and this china news is clearing out the people
Who have no faith in the resilience of crypto.

[jvdp]

The Chinese authorities will block all platform for cryptocurrency trading.

Previously, China has closed all major cryptocurrency exchanges under the jurisdiction of the country, however, according to the authorities, this is not enough, and they plan to block access to local and offshore platforms that allow for centralized manufacturing. It is reported Bloomberg citing sources familiar with the situation.

Last year the authorities decided to close the cryptocurrency exchanges under the jurisdiction of the country. However, she was recently seen increased activity on alternative venues. The sources Bloomberg did not specify how the authorities will define such platform.

any source? or is it old news? south korean banned exchange and shutdown bitcoin. is the cause of down trend today.
the market is recovering slowly now.

South Korean banned in trading it is last week news. This is also affect the cryptocurrency value. But know China also banned in the trading. In China is the huge competitors are available in the country. So many of the users are affected in the trading. This is the current trending news in all over the world. It will be recovering in more than two months. So majority of the investors are selling the Bitcoin.

[edi-mf]

Source?

[matico]

This is not the first time China is banning cryptocurrency within her jurisdiction and believe this will not be the last. China use to be a big influence on the direction of bitcoin price but now, China has lost her relevance. The bleeding price is as a result of new people in crypto!

[DanielRR1997]

A senior official at the People's Bank of China is reportedly calling for a wider ban on services related to cryptocurrency trading in the country. Pan Gongsheng, vice governor of the central bank, said, to prevent market risk, the government would apply more strict regulation to end all cryptocurrency trading-related activities and services. The news comes via a Reuters report today, citing an internal memo reviewed by the news agency. While it's not yet clear whether the reported memo will become immediate policy, the news indicates the continuing severe stance taken by China's top regulators towards curbing cryptocurrency speculation and lowering perceived financial risk in the country.

[TimtheYoutuber]

I dont think this is actually confirmed, and how many times have we seen this? Way to many to count, we will be good.

[Lyne01]

The Chinese authorities will block all platform for cryptocurrency trading.

Previously, China has closed all major cryptocurrency exchanges under the jurisdiction of the country, however, according to the authorities, this is not enough, and they plan to block access to local and offshore platforms that allow for centralized manufacturing. It is reported Bloomberg citing sources familiar with the situation.

Last year the authorities decided to close the cryptocurrency exchanges under the jurisdiction of the country. However, she was recently seen increased activity on alternative venues. The sources Bloomberg did not specify how the authorities will define such platform.

I also read this news, and I believe is just a rumour. If this is true, then government wants to control their people and their economy. This is happening because people now prefer an investment in which they can monitor and can give them instant profit. Banks are losing in the track and money wont come in.

[powermagic]

it does start to happen including in my country. for the reason that the crypto currency can not be a legitimate payment instrument in my country, because using possession or trading has violated the applicable regulations. I can only hope it will all change as before

[fa1ton]

The Chinese authorities will block all platform for cryptocurrency trading.

Previously, China has closed all major cryptocurrency exchanges under the jurisdiction of the country, however, according to the authorities, this is not enough, and they plan to block access to local and offshore platforms that allow for centralized manufacturing. It is reported Bloomberg citing sources familiar with the situation.

Last year the authorities decided to close the cryptocurrency exchanges under the jurisdiction of the country. However, she was recently seen increased activity on alternative venues. The sources Bloomberg did not specify how the authorities will define such platform.

far from the fact that the ban will still be, rather it is another manipulation of the market to knock out mentally unstable players

[13ex07]

We've got too many "professional traders" from the stock/forex markets recently. These guys are still thinking in stock/forex terminologies and they believe that a state ban is something like the end of the world. SK banning BTC trade? Actually who cares? There are plenty of other exchanges. All states across the world banning all crypto trade? Who cares? We can switch to one of the existing distributed marketplaces and all the governments across the world can roll their bans into nice tight and hard paper rolls and go to fck each other or themselves with it. This is the nice part of crypto, governments have no way to control your money.

I incline to the same opinion. It is impossible to forbid what was initially created as an uncontrollable alternative to banks to paper money.

[Bezobraznike]

This is not the first time China is banning cryptocurrency within her jurisdiction and believe this will not be the last. China use to be a big influence on the direction of bitcoin price but now, China has lost her relevance. The bleeding price is as a result of new people in crypto!

Probably one of the most qualified comments which I`ve read in a while. For a couple of months new investors were seing only green lights. They are not used to lose 50% in 2days. Whales are exploiting the newcommers which are paniking hardly. It doesn`t matter China ban, South Korea ban, ICO ban, etc.. crypto is growing hard. HODL!

   I agree, Matico you are absolutely right about Chinese. Bleeding price is not
cause of new people in crypto, we would have different results in case of that.
   Money is going away from crypto-currencies. From $750B to $580, make your
conclusions, this is why prices are going down.
   I do not worry, market grown so much already. We need a bit cooling, we can
buy more for same money now. After cooling, and regaining the strength we will
see prices continuing to rise.

[Bigpiggy01]

WEEEEE!!!!!! Another FUD thread.

China hasn't banned shit except for centralized exchanges.

ICOs are technically still legal there if they register with their securities commission etc.

There are still buttloads of vendors on Taobao who accept BTC.

There are tons of Wechat/QQ groups where P2P trading goes on in fairly massive volumes.

China has fiat xferz with little to no chance of chargebacks making P2P exchanges a lot more secure.

What has caused a large percentage of the blip is Coinbase's bank no longer wanting to handle foreign customers' wire transfers.

[BeruchN]

WEEEEE!!!!!! Another FUD thread.

China hasn't banned shit except for centralized exchanges.

ICOs are technically still legal there if they register with their securities commission etc.

There are still buttloads of vendors on Taobao who accept BTC.

There are tons of Wechat/QQ groups where P2P trading goes on in fairly massive volumes.

China has fiat xferz with little to no chance of chargebacks making P2P exchanges a lot more secure.

What has caused a large percentage of the blip is Coinbase's bank no longer wanting to handle foreign customers' wire transfers.

Mm, yeah, this isn't the first time this has happened.

And everytime people lose their shit. Not really surprised at this point.

[BarkingHawk]

Not much of a surprise, China once again doing all they can to mess with crypto because they fear.  Too bad it's now on the world stage and we won't let China manipulate it anymore.

[BlackWidow]

I think in the near future we will see news about the lifting of the ban . It's all market manipulation , do not panic , usually in January in this market it happens . I stick to strategy and don't panic