OKEX to be donated to Chinese government?

[wodebutterfly]

The founder and CEO of OKEX Star Xu said they will be ready to hand over the operation of the platform to Chinese government at anytime, what do you think? Good news for the market?
https://www.coindesk.com/crypto-exchange-okcoin-prepared-to-donate-it-to-china/

[Endikadija]

The founder and CEO of OKEX Star Xu said they will be ready to hand over the operation of the platform to Chinese government at anytime, what do you think? Good news for the market?
https://www.coindesk.com/crypto-exchange-okcoin-prepared-to-donate-it-to-china/

It doesn't look good for me. Let me guess if star xu will try to hand over okex to the chinese government and there will be so many people are leaving to trade in okex. Okex moves to overseas to reach more demand in the trading platform.
I'm as one of the traders in okex will try to leave it as soon as possible if that will be happening soon.

[wodebutterfly]

The founder and CEO of OKEX Star Xu said they will be ready to hand over the operation of the platform to Chinese government at anytime, what do you think? Good news for the market?
https://www.coindesk.com/crypto-exchange-okcoin-prepared-to-donate-it-to-china/

It doesn't look good for me. Let me guess if star xu will try to hand over okex to the chinese government and there will be so many people are leaving to trade in okex. Okex moves to overseas to reach more demand in the trading platform.
I'm as one of the traders in okex will try to leave it as soon as possible if that will be happening soon.

It's highly possible that Chinese government are planning their own crypto exchange. And and time that Star Xu making this kind of announcement is thought-provoking. During the Chinese annual "Two Sessions", many high profile government officials talk down cryptos a lot, including the central bank governor. So one of the reason Star Xu saying this may be just a kind of gesture showing to the government. Anyway, let's wait and see, if they really decide to do so, there is no doubt many traders will leave including me.

[Yudhisthir]

With one of the largest exchange in the planet, they mean they could work on any extent to ensure authorities like science government to make them feel safer with cryptocurrencies and exchanges.

[auliahr]

I am confused and what is the reason? I think if the Chinese government wants to build an exchange anytime it can. I'm sure they can be bigger and more popular than okex. I am afraid there is a bad purpose, if this happens.

[lakimens]

Definitely not good. OKEX is one of the most used exchanges, not good if it belongs to a government.

[wodebutterfly]

I am confused and what is the reason? I think if the Chinese government wants to build an exchange anytime it can. I'm sure they can be bigger and more popular than okex. I am afraid there is a bad purpose, if this happens.

Cause although OKEX have moved their operation out of China, they still have a large team working in China. Chinese government is still in its early stage in terms of learning blockchain and crypto exchange. So if OKEX really choose to do so, I will not be surprised.

[wodebutterfly]

Definitely not good. OKEX is one of the most used exchanges, not good if it belongs to a government.

If this really happens, it means China had changed their regulation policy by allowing crypto trading again, so maybe good news in this way. Anyway, traders can always choose another exchange it they do not trust one exchange any more.

[globalcitizen]

It is both a good news and a bad one at the same time. Good in the sense that It will make the government to turn a blind eye over the exchange and bad because many traders will lose confidence on the exchange and leave the platform leading to a dump in the crypto market.