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‘China wants domestic bitcoin exchanges to close”

‘China wants domestic bitcoin exchanges to close”

Chinese authorities would plan to use domestic bitcoin exchanges to close.

That reports The Wall Street Journal on the basis of insiders. The central bank of China would be instructions drafting Chinese platforms no longer services for digital currencies may offer.

Chinese regulators investigating since the beginning of 2017, the domestic market for bitcoin and other digital currencies. Cryptomunten be there as a threat to the financial stability, having regard to, inter alia, because they are prone to crime and money laundering. In addition, rocking them a lot in value.

Although representatives of the central bank and the cyberveiligheidsinstantie Cyberspace Administration of China the past few months, several solutions have considered, it was ultimately decided to use the scholarships for cryptomunten to close.

Analysts suggest now that many of the beursactiviteiten now go underground. This digital currency to each other, but also to send private addresses to use, which as safes. According to the insiders, the regulators probably the non-commercial trade in cryptomunten going to tolerate it. “The government also has no power to control it,” says a source.

The two largest domestic markets for cryptomunten, Huobi and BTCC, said last weekend, still no request to have had to close.

ICO’s

China decided last week to have a so-called ‘initial coin offering (ICO) illegal to make. With an OIC can start up business capital from investors to retrieve. It is a kind of middle ground between crowdfunding and equity offering, without supervision and without the intervention of the bank or the form.

In exchange for a donation received investors a cryptomunt and hope that it is strong in value is going to increase. The Chinese central bank is suspected, however, that there is a case of illegal issuance of securities, and a whole row of other non-allowable matters.

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