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posted by janrinok on Sunday September 17 2017, @03:48PM   Printer-friendly
from the man-wants-his-cut dept.

Submitted via IRC for SoyCow5743

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/


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  • (Score: 0) by Anonymous Coward on Sunday September 17 2017, @06:19PM

    by Anonymous Coward on Sunday September 17 2017, @06:19PM (#569452)

    What are you hiding behind, JIDF warrior?

    Did you hear that oil is being replaced with batteries? When there is low usage of oil for the world, the American dollar will go permanently. China is moving away from the American dollar and oil too, and hence the destabilization attempts at China. The jewish scum does not like its permanent supply of money going dry, hence the cryptocurrencies hype and then the Chinese blocking them.

    Also, did you hear that crypto currencies are also Fiat currencies and have nothing backing them? They can go away in one night. You of all people should know that, jew rat.

    Everybody, expose the jew for the jew does not like it.