Bitcoin China to cease digital assets trading

17 September, 2017, 01:08 | Author: Irene Delgado
  • Bitcoin China to cease digital assets trading

On the afternoon of September 15, 2017, Huobi and OKCoin - China's two largest bitcoin exchanges - received guidance from regulatory authorities.[1] Thereafter, the exchanges posted statements on their respective websites to inform customers of resultant actions.

The Bitcoin has gone on a tailspin in India, falling much faster that elsewhere in the globe, after a China crackdown on crypto-currencies and public remark by an Reserve Bank of India (RBI) official, trashing the digital currency. In fact, leaked documents obtained by Reuters show that the Chinese government is ordering cryptocurrency exchanges to close. The PBoC and Chinese financial regulators finally stopped dragging Chinese exchanges through one policy change to the next regarding renminbi, although there may be more to come. The Yunbi exchange issued a similar announcement, declaring that trading on its platform will end on September 20.

Chinese regulators have shut down bitcoin exchanges, leaving the future of digital currencies in China up in the air and sending the price of bitcoin and ether tumbling. Many estimates indicate that the vast majority of trade occurs through exchanges in the country. Chief Executive Officer Jamie Dimon's skeptical view of cryptocurrencies and initial coin offerings, signaling that not all Moscow authorities are convinced the new technology is a good idea.

"They can become a tool for illegal fund flows and investment deals".

Bitcoin China to cease digital assets trading
Bitcoin China to cease digital assets trading

Bitcoin is some way off its record high of $4,950 as it continues to falter amid concerns that the Chinese government is launching an anti-cryptocurrency movement to crack down on digital currencies. The combined value of cryptocurrency, made up of more than 800 currencies, declined by $50 billion in the last week, according to CoinMarketCap. This corresponded with an instant upswing in crypto markets with Bitcoin alone gaining $400 in just minutes. Any Chinese citizen traveling to the United States or Western Europe can easily purchase Bitcoin at any one of several thousand public ATMs selling the cryptocurrency.

China is cracking down on the cryptocurrency business to try to limit risks as consumers pile into a highly speculative market that has grown rapidly this year.

But foreigners can still use its services in overseas markets, Shanghai-based BTCC said in a statement.

Barcelona struggle but do enough to maintain flawless LaLiga record
Dembele , Barcelona's record signing, had started against Juventus in the club's 3-0 Champions League win on Tuesday. In first half stoppage time Guaita produced a good save to turn Lionel Messi's free kick away for a corner.


Mastermind of Amarnath Yatra attack Abu Ismail killed in encounter
Ismail was believed to be the mastermind behind the terror attack. "This operation is a result of people's prayers". After the death Abu Qasim, Abu Dujana took charge and then you had Abu Ismail in-charge of the LeT.


Zapad war games unnerve the West
Russia and Belarus say the exercises, which run until September 20, involve 5,500 Russian and 7,200 Belarusian troops. But Russia's covert annexation of Crimea in 2014, which was masked by military exercises, has changed perspectives.


Recommended:



Popular

Equifax shares plunge after FTC announces probe of data breach
Within two weeks, you will receive a letter with a unique PIN to unlock and relock your credit, he said. While Equifax is free now, Transunion and Experian will cost you at least $5 to put on and to take off.

Senate to vote on Wisconsin budget Friday
Steve Nass, Duey Stroebel and Chris Kapenga have put together a memo outlining their demands. As it's now written in the budget, that repeal would take effect in September 2018.

Counterterror probe in Paris attempted attack
The assailant had also threatened passersby before targeting the three police officers, according to BFM TV. According to initial data, the French soldier was attacked by an unknown person armed with an arme blanche.

President Trump Greets Young Boy Who Offered To Mow White House Lawn
The Hill said Trump promised to invite Giaccio and his family into the Oval Office for a longer talk after he was finished mowing.

Darren Aronofsky wrote the script for mother! in five days
Jennifer Lawrence in Dior with Darren Aronofsky at " Mother! " premiere. "And I'm never confused with him". Imagine a film so intense that watching the finished product even scared the star, who plays the lead.

Liverpool need a '100 per cent performance' against City, says Klopp
Don't get me wrong, I don't think there will be a statue of him going up at Anfield any time soon, but fans do forgive and forget. Instead, the trio of Roberto Firmino , Sadio Mane , Mohamed Salah has been firing on all cylinders for Klopp's team.

Giants' Beckham returns to practice
The 24-year-old catalyst of the Giants' offense said there are still some movements that irk his ankle. It looks like so far they haven't done enough this off-season to give Beckham more support.

Oil prices rise as IEA sees higher demand, shrinking inventories
US crude imports dropped to 5.7 million bpd last week, the lowest on record, according to the EIA . West Texas Intermediate crude was up 1% to $48.71 a barrel on Wednesday morning.

Pres. Trump Meets With Sen. Scott on Race Relations
Details about their conversation were not discussed publicly, however Sanders said it was "certainly a conversation that Sen". Scott has made no secret of his desire for the President to become more engaged on this topic.

Olympic host cities Paris and Los Angeles
Paris will host the 2024 Olympics and Los Angeles will stage the 2028 Games, the International Olympic Committee has confirmed. Los Angeles had originally bid for 2024, but because of the new date, it had to make changes to its host contract.