Bitcoin & the Chinese Law
"The Chinese government is surprisingly open about the cryptocurrencies", says Roland Sun, the head legal expert for ZAFED and the Chinese crowdfunding platform DACx. The Chinese government has maintained a lenient stance on Bitcoin and other cyrptocurrencies. While Hong Kong lawmakers used the MyCoin debacle to demand a ban on the digital currencies, the government refused to shut down Bitcoin shops and continues to allow spot, futures and derivatives trading on Bitcoin and like currencies on numerous exchanges. The regulatory authorities are much more relaxed in China than their....
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BTC-e has opened up USD/CNH, BTC/CNH, and LTC/CNH markets today. Withlooming PBOC action that would end Chinese Bitcoin exchange's access to domestic bank accounts, Chinese traders are undoubtedly looking for new exchanges to trade on. Along with Chinese RMB (CNH to BTC-e) trading comes RMB deposits, which are handled through an international bank. An international bank means that Chinese traders wishing to convert fiat to crypto through this route will be subject to the Chinese $50,000 annual limit. In fact, people are starting to realize that the PBOC's still shrouded notice to regional....
Read the original Chinese article on btc38 and btckan, a prominent Chinese Bitcoin exchange and website, respectively. BTC China's CEO Bobby Lee has introduced a new method for Bitcoiners in China to "recharge" their RMB balances on Chinese Bitcoin Exchanges: BTC China vouchers. Within a week, Chinese Bitcoin Exchanges led by BTC China, have found a solution for getting RMB deposits into Chinese Bitcoin Exchanges in compliance with ever-changing interpretations of Chinese law. Alternatively, Huobi's CEO has been using his personal bank account to provide RMB liquidity for all of his....
It is the Chinese New Year! January 8, 2016 marked the beginning of a new year according to the Chinese lunar calendar. The celebrations are not confined to Mainland China and other Chinese territories, but across the world with significant Chinese population. According to Chinese Zodiac, each year is signified by an animal and 2016 is the Year of the Monkey. Other eleven zodiac animals include rooster, dog, pig, rat, ox, tiger, rabbit, dragon, snake, horse and goat. Generally, new year festivities goes on for a fortnight with people wishing each other luck, good fortune and prosperity.....
FXBTC posted an announcement to their website earlier today, 5/2/14. The announcement let FXBTC customers know that FXBTC would be shutting down its site on 5/10/14. Users have until 5/10/14 to withdraw their funds from FXBTC. Unfortunately, withdrawals in Fiat at Chinese banks has been closed, at least to FXBTC customers, for over a month now. Furthermore, FXBTC's volume has been down for weeks now, and I highly doubt that there are many more customers with funds stuck there. FXBTC's announcement comes on the heels of Chinese news claiming that the People's Bank of China (PBOC) is....
Ethereum and its founders have been the target of various accusations in the last couple of weeks ranging from fraud to the blockchain being run by the Chinese. On-chain investigator Boring Sleuth has been one of the most vocal when it comes to Ethereum founders’ alleged wrongdoing, tying the network to the Chinese. The most […]