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Monday, September 25, 2017

Crypto News: How Shanghai Govt Came To Forcing All Bitcoin Trading to Stop: The Insider Story

How Shanghai Govt Came To Forcing All Bitcoin Trading to Stop: The Insider Story

Sept. 22, The Paper news agency reported that the Chinese regulators not only banned the exchange between Bitcoin and other cryptocurrencies and the Chinese Yuan, but they also called for all trading of cryptocurrency to any fiat currency to end.

This carries the implication that all exchanges have effectively been banned.

Furthermore, the regulators in Shanghai have asked for the top management of the exchanges, including the executives, directors, finance team and technical team members, to stay in Shanghai to cooperate for the clean-up activity.

Previously, the Beijing regulators still did not call for trading in all fiat currency to be stopped. However, it was noticed that on Sept. 15 both OKCoin and HuoBi first announced that all cryptocurrency trading in Chinese Yuan will end. The next day, both exchanges modified their announcements respectively to include a plan to end all cryptocurrency trading activities.


Full story at http://bit.ly/2jYP2hI


Source: CoinTelegraph


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