Chinese cryptocurrency market plummeted

[RothsCoin]

Chinese authorities have recently demand the suspension of the whole cryptocurrency system in this country, meanwhile strengthening the control over risks related to digital currency.

China is one of the largest Bitcoin markets in the world with 90% of the global transaction volume. By tightening the relevant regulations, Chinese market share has dropped sharply to below 30%.

The authorities responsible for overseeing the financial risks of the State Council (the Government) have asked all local regulators to close all cryptocurrency trading exchanges related to Yuan.

The ban will adversely affect three large bitcoin systems in China, including OKCoin, Huobi and BTC China. Bitcoin exchange rate on Huobi and BTC China has plunged by 20% to 23,000 Yuan (about 3,550 USD) on September 08th.

Rothscointeam.

[Harley Quinn]

Chinese authorities have recently demand the suspension of the whole cryptocurrency system in this country, meanwhile strengthening the control over risks related to digital currency.

China is one of the largest Bitcoin markets in the world with 90% of the global transaction volume. By tightening the relevant regulations, Chinese market share has dropped sharply to below 30%.

The authorities responsible for overseeing the financial risks of the State Council (the Government) have asked all local regulators to close all cryptocurrency trading exchanges related to Yuan.

The ban will adversely affect three large bitcoin systems in China, including OKCoin, Huobi and BTC China. Bitcoin exchange rate on Huobi and BTC China has plunged by 20% to 23,000 Yuan (about 3,550 USD) on September 08th.

Rothscointeam.

Yes this is definitely affecting my bounty and trading work that I do with my crypto partner. Hopefully we can stay on top of this!

[hdclover]

Isn't this an old news?
I know a friend from China who is still trading Bitcoins. I asked him how and he replied that many serious traders (big traders) shifted to either Hong Kong or Japan and some small traders are still transacting via localbitcoins. For payment method they are using alipay.
I'm not 100% sure of this info as I'm not a Chinese. I just posted here what I heard.

[neatworld]

Sounds like old news to me, especially since the first post refers to September 08. Copy and paste post, perhaps?