indeed looks like they will close some major exchanges however plenty of coin still being traded https://cointelegraph.com/news/chin...platform-localbitcoins-as-fud-excites-markets
"According to both leaked documents and statements from local exchange executives, issued on condition of anonymity, China’s regulators have now issued verbal directives indicating how they expect the businesses to wind down operations due to the fact that they are operating domestically without a formal license. A document leaked on Chinese social media, translated below, lists a series of steps the exchanges must undergo during that closure. While not received directly by exchange executives surveyed, the document is reportedly consistent with verbal guidance." You would think if this was FACT that it would come straight from Gubmint rather than a dodgy article, after all if it was Gubmint policy then why all the ineundo and secrecy instead of an outright statement issued by a Gubmint official ?
Don't worry, I'm sure China just wants to put a pause on everything until they get a tight grip on how money flows through the exchanges. Once they feel they can control how money flows they will allow exchanges to open again provided they have the required licenses. Though Chinese might find cryptos less appealing in that environment. Well that's my thoughts anywho. I could be wrong and it could be a flat out ban. In the mean time enjoy the cheaper prices if you were in the market to buy.
Bring on decentralized exchanges with a working swipe card or phone app payment solution and problem solved.
Yeap, I believe decentralized exchanges will be the way forward. Notable ones include Waves, BLOCK, DCR, BTS, KNC. And 0x project's ZRX will be able to link all their orderbooks together. How cool that will be!
I think The Dollar Vigilante did a good report on this topic. Good balanced report, unlike dumb kids like Boxmining.
Well i really thought this would have caused a longer sell off. I wonder if the Chinese are now buying from other exchanges around the world. Looks like China's government is doing a piss poor job at capital control, I'm starting to even wonder if they are even trying to stop capital outflow or just pretend to. Once again I'm left clueless in this world I give up, i now accept 2+2=5
