China bans executives of Bitcoin leaving the country

BITSTAMP:BTCUSD   Bitcoin / Dollar
304 4
The Chinese media are reporting that executives of criptomoedas exchanges were ordered not to leave the country, stating:

"A number of sources say executives of special currency exchange platforms can not leave Beijing to cooperate with the investigation. According to regulatory requirements, the shareholders of the trading platform, the current controller and financial executives need to fully cooperate with the relevant work in the cleaning period in Beijing. "

The Australian Financial Review (AFR) says that the above message was confirmed with them by "a source close to one of the largest exchanges, Huobi", who told them that its founder, Li Lin, was required "to inform the authorities and cooperate with their work at any time. "

The desperate measure is made following a decision by the Communist Party of China to close all exchanges of criptomoedas, with turnover in the country falling considerably.

Chinese trading volumes now account for only about 5% - 10% of Bitcoin's or Ethereum's global trading volumes. With the price significantly lower. CoinMarketCap will exclude you from average price calculations.

China isolates itself from the world: Bitcoin thrives by independent

China, therefore, seems to have been isolated, while the rest of the world seems to be moving forward, but issues are being raised in relation to the miners, with about 80% of its operations centralized in the country. An investor in Chinese mining companies in Bitcoin told AFP:

"We were not all believing they would close the exchanges, so we are preparing for the worst."

China's decision to close the exchanges surprised many and was very unexpected with the authoritarian government giving no clue that they plan to take such desperate measures.

So what can they do about Mining operations: a $ 2 billion import industry that may have trouble operating without the ability to sell their bitcoins to the market.

China's miners are apparently preparing for the worst, with some thinking of moving to neighboring countries or to very cold areas such as Iceland.

BY: TrustNodes
This news was issued about a day ago, and still no panic..
mozartc chestnutTV
@chestnutTV, 10 days left for panic
mightytrader chestnutTV
@chestnutTV, It goes to show how crowd psychology works. People buy because they see the price go up; people sell because they see the price go down. The actual story doesn't really matter but people like to think it does.

However, I'm not messing with the Chinese. I'm out of the markets and all cash, baby!
+1 Antworten
mozartc mightytrader
@mightytrader, said well, buy because it is rising and sell because it is coming down
+1 Antworten
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden