China's crackdown signals an oncoming crypto ban, Bobby Lee says
China has been increasing its regulatory pressure on crypto firms to help Chinese citizens stay clear of high-risk investments. Bitcoin (BTC) maximalist and Ballet CEO Bobby Lee recently discussed the implications of China’s ongoing crackdown on cryptocurrency. Despite the government’s support for a digital renminbi, Lee suggested that Beijing has no interest in nurturing the cryptocurrency industry. Considering his collisions with the Chinese government during his stint in running China’s first crypto exchange BTCChina, Lee said:“It (China) wants to regulate (cryptocurrencies) to achieve....
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Source: Linkedin. CEO (Bobby Lee) of the world's largest bitcoin exchange, BTC China, laid out the implications of the Chinese crackdown on the virtual currency, speaking at Inside Bitcoins conference/expo in Las Vegas: "If bitcoin is not a currency in China, as a state, only recognizes one single currency, which is the RMB. So, therefore all merchants, stores, and services can only accept the RMB. And since bitcoin is not a recognized currency, it's a logical conclusion that China, for now, will not allow goods and services to be sold and paid for by bitcoin." Bobby Lee says that he's not....
The International Bar Association did a fascinating interview with Bobby lee. We have summarised the 45 minute long interview for you. Bobby Lee, the owner of BTC China the largest and first Bitcoin exchange in China. Previously an engineering manager at Yahoo as well as the vice president of technology at Walmart. His brother, Charlie Lee is also the creator of Litecoin. Recently, a video came out where he was interviewed by Rebecca Lowe over at the International Bar Association. “Bitcoin is not a far leap from my background, so to speak. It is in the world of finance, but it is very much....
Upbeat Bobby Lee? I managed to catch Bobby Lee, CEO of BTC China, on the phone yesterday to talk about Bitcoin's situation in China. What is the situation with the PBOC (People's Bank of China) and Bitcoin in China? The PBOC secretly ordered payment processors and banks to dissociate themselves from Bitcoin exchanges. There was nothing in writing, just pressure exerted on them. As the number 1 exchange in China, we are examining our options. There are many available. Do you plan on moving BTC China abroad? I cannot tell you what our next move is, but we are not ruling anything out. You do....
As I mentioned yesterday, OKCoin and BTC China both announced “The First Bitcoin ATM in China” yesterday. BTC China Bobby Lee wanted to show the world that 4/15/14 is just another day for Bitcoiners. There isn’t a magical guillotine from the PBOC that will be dropped today, as rumors of a private PBOC notice circulated only to banks and 3rd party payment processors requiring stricter adherence to the 12/5/13 notice finally peter out. Bobby Lee took to CNBC for an exclusive interview to highlight to somewhat ignorant mainstream media that Bitcoin “defies talk of China crackdown.” At....
Several U.S. lawmakers see China’s authoritarian crackdown on cryptocurrency, including bitcoin, as “a perfect opportunity for American leadership on cryptocurrency.” One senator noted that it is “a reminder of our huge structural advantage over China.” US Lawmakers Comment on China’s Cryptocurrency Crackdown Following the latest news of China’s crackdown on cryptocurrency, several U.S. lawmakers have shared their views on the situation. Senator Pat Toomey from Pennsylvania said: China’s authoritarian crackdown on crypto, including....