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RE: Daily: Binance to Block Chinese IPs? Raiden Testnet Launches!
This is not good. @Boxmining As I noticed from your interview with Binance CEO Changpeng Zhao, he has pretty deep insight on Chinese situation. And if he decides to block Chinese IPs, this may mean Chinese Gov is gunning not only for ICOs, but for crypto trading as well. This is huge. Binance states the following: "In accordance with... requests from various government offices...". So they were ASKED to block China from trading!
on slack he was ask what the regulations where and the answered "welcome to china" seems like they just want to do some stuff to show they are complying.
Or just afraid to be punished and had no other choice :) Anyway, the situation will be more clear if any other big Chinese exchange makes the same move - blocks Chinese IP addresses, right?
I wonder how that would affect the market? Would the Chinese find other ways to buy crypto or would they cash out... This could potentially affect the market negatively on a grand scale.
Who knows? The situation is deep. It is really hard to restrict to buy crypto. Investors from China will anyway have easy-to-mid level difficulty to buy cryptocurrencies. But the question is - will they invest at least half of the amount possible in no restrictions situation? Probably not. But even loosing Chinese investors at all will not make the market too bad. Maybe minus 15% market cap in long run. This is in worst case scenario. But the industry is growing so fast, that those 15% will be recovered very soon anyway. Crypto industry is strong now!
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