China is taking the first action against betcoin, which may be the first step to the end of the betcoin !!
It seems that the future of the electronic currency "Betcoin" has started to raise a lot of doubts in the recent period, especially after a firm decision of the Chinese authorities in this regard, while the electronic currencies, led by the betcoin high popularity led to a rocket surge in prices.
The new news coming from China has resonated in the past few days as the media reported that the BTC China platform, the Chinese e-currency platform, announced last Thursday its decision to stop all electronic transactions in the currency of the Betcoin in compliance with the Chinese government's tightening in this area .
The Chinese platform said it would formally suspend its activities in this area on Sept. 30, in compliance with the strong warning from the Chinese National Authority for Internet Finance (NIFA) on Wednesday.
She pointed out in her statement the risks posed by the circulation of electronic currencies that are not subject to any legalization, and stressed that these electronic currencies used to finance suspicious activities such as criminal operations such as money laundering, drug trafficking, smuggling and other away from the eyes of the law.
The new development predicts that the end of electronic currencies, especially the Pitcairn may be soon, especially as China is the first player on the level of the Internet in the world.
I spent a few hours writing in this, I hope that this post you like it, I'm sorry about the grammatical errors , have a good day ^^
Keep buying on all dips. Cryptos aren't going away. China's loss. Japan took full advantage.
I hope that
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What's much more likely to happen is that Bitcoin and the other cryptocurrencies will be traded in friendlier lands such as Japan and South Korea. Wealthy Chinese will find ways to access markets; wealth always finds a way around regulation.
The rest of the world will continue to invest in and grow Bitcoin and the others. Cryptocurrencies are here to stay. Cheers!
At least there will be some chaos . Cheers^^
Indeed! What's life without a little chaos now and then... Following. Cheers!
Nobody can stop the growing market of btc! 😀
A lot of the volume has been absorbed by the Japanse. Which is a good thing IMO.
https://www.techjuice.pk/japan-overtakes-china-biggest-bitcoin-market/
I don't think that this China "ban" will destroy the currency. One of the things I love is that it is not controlled nor can it be conquered by any state entity.
Much of this is FUD. And I think that Chinese exchanges, since they would be open to audit, are closing up to protect themselves from their fraud like activities. Business as usual has all but returns. And we press on :)
I hope that ^^
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Nice post! I wrote a post on a related topic:
New China FUD: How hard will BITCOIN CRASH if China bans mining? - CEO of Chinese exchange says we are fu*ked - OTC trading banned! - Is Japanese volume temporary?
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thanks