Bitcoin China will shut down the transaction industry: do not rule out more stringent measures


Bitcoin China will shut down the transaction industry: do not rule out more stringent measures

China Jingwei client September 15 (Bi Tongtong) mystery in the design of the 33 characters - bitcoin, in the country suffered regulatory "killer" mace".

September 14th evening, one of China's three major virtual currency exchange bitcoin China announced that it will suspend all transactions on September 30th, but the ore pool and other business is not affected.

Before the announcement, bitcoin China executives to the new Jingwei client (WeChat public number: jwview) said it has received verbal notice of regulators, called for shutting down transactions. At present, the OKCOIN currency line and fire currency network have not yet been informed of the regulatory notice, once the announcement will be issued.

Bitcoin China will shut down the transaction industry: do not rule out more stringent measures
Bitcoin China announcement source: Official Website screenshot

Industry: do not rule out more stringent means

One stone arouses thousands of waves, bitcoin China announcement within one hour, virtual currency diving across the board. Bitcoin China quotes show that bitcoin fell by over 20%, the Wright currency fell 24%, the aether coins fell 13%.

According to the first financial, the upper regulation has been the domestic bitcoin trading platform under the final verdict: "all shut down, and in the near future to withdraw from the market."."

Let the trading activities of virtual currency and currency exit Chinese, include market risk, financial risk and social risk three aspects to consider.

A close supervisor to the new Jingwei client (WeChat public number: jwview) revealed that the regulation is not to eliminate bitcoin, the main purpose of supervision is to cool bitcoin down to a reasonable range. Virtual money is now a national day, incomplete trading volume statistics is about 20000000000, the volume of this transaction is too large.

"If the scale still can not be reduced, there will be more stringent measures."." The above sources said.

So far, the industry is still "lucky", "bitcoin Chinese closed the business because it has been involved in ICO tokens, trading ICOCOIN, but the fire coins network and OKcoin were not related to ICO, so there is no problem," one of the mainstream virtual currency trading platform insiders to the new client (WeChat public transit number: jwview) to express this view.

Offbeat investment experts, digital currency veteran observer Xiao Lei to the new latitude client (WeChat public number: jwview) said that the closing exchange, ICO is the cause, but the exchange, not only relates to ICO only, all will be closed.

"Due to the specific implementation of the policy is in place, the execution time and may inform the platform not very consistent, first notice bitcoin China, because compared to the fire coins coins and OKCOIN, bitcoin trading volume China slightly smaller, if all of a sudden notice about a stampede. Next may be the fire currency and OKCOIN currency line." Xiao Lei explained.

Where is the virtual currency exchange going?

What about the virtual currency trading platform, such as bitcoin trading in China? This is placed in front of the platform in urgent need of solution.

Xiao Lei believes that one is to overseas layout, and the other is to bitcoin and other virtual currency asset management change, after all, the exchange has a strong credit base and user base.

"There are a lot of things that can be done in the block chain, but it's certainly not done. The exchange is profitable, and then the entire exchange business is in the ice." Xiao Lei believes that the future establishment of official background, or higher level approval of one or two virtual currency exchanges is still possible.

In fact, the current mainstream trading platform has been set up in overseas development of international digital asset trading platform, such as OKCOIN international station, fire currency network, PRO version, poly currency net overseas version of coolcoin, an overseas currency also has domestic trading platform version, and even claimed to have got the Japanese trading license.

The announcement from bitcoin China, at present, the ore pool business can continue. Mine pool is to encourage low computing power miners continue to participate in mining, in a pool, the miners to contribute their computing power to generate a block, and then according to each person's contribution to the distribution of reward ratio. In addition, bitcoin mining is not expressly prohibited, but in exchange, mining profits and lower.

"Sooner or later, but we haven't received any notice yet.". These days are in preparation for the ICO project return materials, almost ending, the next step how to start the transformation, but also in contact before overseas." An executive at the national virtual currency trading platform registered in the West expressed to the China Jingwei client (WeChat public number: jwview).

A brief history of bitcoin regulation: regulatory action gradually advancing

In fact, before the tough action, regulators have repeatedly cooled the bitcoin market.

In 2013, bitcoin prices from 80 yuan / year, rose to 8000 yuan / year, or up to 100 times, in order to cool the bitcoin trading market, Chinese five central ministries jointly issued a notice in 2013 12 "on guard against the risk of bitcoin".

At the beginning of this year, bitcoin China, OKCOIN, fire currency network three domestic trading platform trading volume accounted for 98% of global bitcoin investors around the part of the selection of foreign exchange system, the central bank in the three trading platform, involving market manipulation; the implementation of anti money laundering system; financial security risks and other on-site inspection, then each platform in the aspect of anti money laundering, such as opening hold identity cards, video etc..

Since June of this year, ICO has been hot and the form of securities IPO has triggered a new round of bubbles and madness. September 4th, the Central Bank jointly issued seven ministries on the prevention of financial issues issued by the issuing of shares notice. At present, all tokens are tokens are trading platform for repaying the work.

In September 13th, China Internet Financial Association also announced that, in recent years, bitcoin, Wright coins and various tokens become money laundering, drug trafficking, smuggling, illegal fund-raising and other illegal and criminal activities, investors should be vigilant, find clues to the criminal activities should be reported immediately. In addition, all kinds of so-called "currency" trading platform in our country there is no legal basis for the establishment.

At present, the supervision for ICO tokens, bitcoin regulatory rules have not yet clear, many industry insiders to the new client (WeChat latitude public number: jwview) recently said, really worry, hope as soon as possible to clear regulatory rules. (Sino Jingwei APP)

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