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When the Chinese government announced a ban on initial coin offerings last week, it looked like an attempt to rein in the speculative excesses of the cryptocurrency economy. But now it seems like it might have been the start of something more ambitious: a coordinated campaign to shut down use of cryptocurrency in the Middle Kingdom.
The full extent of the Chinese crackdown isn't clear yet, in part because key decisions have only been communicated privately to Chinese Bitcoin exchanges. But a couple of Bitcoin exchanges have now announced that they are shutting down. And leaked documents suggest that the rest will be required to do so before the end of the month. Chinese users will be given a chance to withdraw their funds before the exchanges shut down.
"BTCChina encourages customers to withdraw their funds as quickly as possible," one of the exchanges wrote in a Friday tweet. "Customers can withdraw their funds whenever they want."
Bitcoin has always been something of an awkward fit for China, which strictly regulates financial markets and limits the flow of funds overseas. Chinese officials have apparently concluded that Bitcoin has become too popular as a way to circumvent those regulations.
Source: https://arstechnica.com/tech-policy/2017/09/china-may-be-getting-ready-to-ban-bitcoin/
(Score: -1, Offtopic) by Anonymous Coward on Sunday September 17 2017, @05:18PM (2 children)
Why are boys' cocks surgically reconstructed by obstetrician/gynecologists?
Because two Jews (an OB/GYN, and an engineer) created the GOMCO clamp and tenaciously promoted circumcision as an OB/GYN "service".
You don't need an explicit conspiratorial cabal in the traditional sense; a shared culture, and a strong work ethic achieve the same effect.
When Jews are on the correct side of an issue, they are a fantastic asset; when Jews are on the wrong side of an issue, they are menace to the species.
(Score: 1, Informative) by Anonymous Coward on Sunday September 17 2017, @05:53PM (1 child)
No fucking shit, ditto the Germans, ditto the Japanese, ditto the Russians / Chinese / Saudi Arabians / Swedes / Spaniards / Ugandans / do I need to continue?
You're a total and complete git.
(Score: 2) by maxwell demon on Sunday September 17 2017, @06:56PM
You mean he can be used for version control? :-)
The Tao of math: The numbers you can count are not the real numbers.