Chinese ban bitcoin exchange
First, even though several days have passed since the original report, there has been no official notice on the matter from the People's Bank of China. Second, three of the largest exchanges in China— OKCoin , BTC China and Huobi— said on Monday that they haven't heard anything about a ban from the country's regulators, at least not officially. BTCChina Exchange is operating normally, and has not received any new directives from Chinese regulators.
We'll keep you updated. And Bloomberg wrote on Monday that over-the-counter transactions off-exchange trading would not be banned, meaning trading crypto would still be possible for whales informal moniker for entities that own very large amounts of crypto. While it's still very possible that China will, indeed, ban crypto trading, it could only be a temporary blow for Bitcoin. Several experts weighed in following the reports, saying the money will ultimately move elsewhere in case of a ban.
Where there's demand, the money will find a way to get to those exchanges. Think of the worst case scenario: And they ain't even decentralized. When has any ban on anything ever worked btw? There are really only two choices here: When it comes to Bitcoin, China's authorities are known to change their minds often, and a lot of the time they've been ambiguous on what they plan to do.
It's quite possible that the rumors about the ban of crypto trading will stay lingering in the air for a while, without official confirmation or denial. We're using cookies to improve your experience. Click Here to find out more. First, even though several days have passed since the original report, there has been no official notice on the matter from the People's Bank of China.
Second, three of the largest exchanges in China— OKCoin , BTC China and Huobi— said on Monday that they haven't heard anything about a ban from the country's regulators, at least not officially. BTCChina Exchange is operating normally, and has not received any new directives from Chinese regulators.
We'll keep you updated. And Bloomberg wrote on Monday that over-the-counter transactions off-exchange trading would not be banned, meaning trading crypto would still be possible for whales informal moniker for entities that own very large amounts of crypto. While it's still very possible that China will, indeed, ban crypto trading, it could only be a temporary blow for Bitcoin.
Several experts weighed in following the reports, saying the money will ultimately move elsewhere in case of a ban. Where there's demand, the money will find a way to get to those exchanges. Think of the worst case scenario: And they ain't even decentralized. When has any ban on anything ever worked btw? There are really only two choices here: When it comes to Bitcoin, China's authorities are known to change their minds often, and a lot of the time they've been ambiguous on what they plan to do.
It's quite possible that the rumors about the ban of crypto trading will stay lingering in the air for a while, without official confirmation or denial. We're using cookies to improve your experience. Click Here to find out more.