Chinese trading sites have agreed to stop all trades by 9.15
Chinese government trading agency will take over
Chinese govt trading agency will provide the Chinese govt with daily transactions, trajectory, overall performance report
Chinese trading agency has the right to hold the information of their clients, see how much money they are holding
Other urls found in this thread:
cointelegraph.com
twitter.com
yes user, we know. We've known for 2 weeks. Sell the rumor and buy the news. This isn't hard.
Bye bye chinks. No one in their right mind will be buying in China now.
Don't come back.
This is photo sent by my friend who owns a Chinese trading site today, most trading site owners met up with Chinese higher ups and had to force agreement
Can't wait until China nationalizes all those bitcoin farms in their country too.
this looks like japanese to me
No katakana or hiragana. It's Chinese.
I read it earlier.
It says als BTC holding and trades will automatically disclosed to the gov.
Could now post the communist flag, but it wouldn't be good meme as it' ac tually China
how can anyone read that stupid shit
Yeah, it's Hanji and not Kanji.
chinaman here, post a clearer pic and I will translate it
idk looks a bit like japanese still
Would this mean that chinks will be flocking to monero?
Ok autismo, it's Japanese.
What altcoins will suffer for this?
If I was them I would just cash out and flee the country
Chinese whales are actually monitored 24/7. they'd probably get murdered if they tried to escape with their money
cointelegraph.com
Does not. Contains PRC simplified characters and no hiragana/katakana
mah nigga knows his shit
1. Before 20 September 6pm, exchanges shall come up with a detailed risk-free clearing plan, and send this plan to the office. Exchanges shall deal with their claims and liabilities properly, and insure that investors’ funds and virtual currencies are safe.
2. Before 20 September 6pm, exchanges shall determine a bank account, which will be used for depositing user funds. All other accounts in banks and other non-bank payment service providers shall be canceled and reported to the Business Management Department of People’s Bank of China.
3. Before 15 September midnight, exchanges shall publish closing announcements, and announce a schedule to stop the trading of all virtual currencies. New user registration shall be stopped immediately after the announcement.
4. Shareholders, controllers, executives, and core financial and technical staff of exchanges shall cooperate fully with authorities during the clearing, while staying in Beijing.
5. Exchanges shall report their developments daily to local authorities before the clearing is completed.
6. Exchanges shall save all user trading and holding data, and send it to local authorities immediately in DVDs.
The document is signed: The office of the Leading Group of Beijing Internet Financial Risks Remediation, Sept. 15, 2017
Yeah, like I said, we already fucking know this.
It's all over the news already.
Thats backwards btw.
You are supposed to buy on rumor and sell on announcement.
Man we need a solid decentralized exchange stat! What's to stop any other country from doing this...
It's a meme it's stupid either way but in a downtrend you're supposed to do everything backwards if you want to make money, so sell rumour buy news works here
They still need exchanges to liquidate, so who knows. They may seek refuge in Monero while awaiting decentralized exchanges.
>Exchanges shall save all user trading and holding data, and send it to local authorities immediately in DVDs
Now, that line spooks me. The main reason for the insane growth these last 6 months is because BTC has become a legitimate asset to anonymously hide wealth in China. And the Chinese aren't like us Westerners. Hiding your assets from the government can almost be considered a sport in China.
Now that their names are being handed over to the authorities, I wonder what their next move will be. Keeping their yuan in BTC when the authorities knows about it, defeats the entire purpose.
> be chink
> mine btc
> send btc to wallet
> cant sell btc to exchange anymore
> start chinking out
> will continue mining btc and sending it wallet
> btc is now 500k
> framy so proud
> move to USA
> sell btc on us exchanges
> buy house
> chink out with John McAfee
Monero spike? Do Chinese even know about Monero?
CHING CHONG CHOW.
YOU GOODBYE NOW.
no, the minable top 10 market cap coin that made 200x in the last two year went unnoticed by the Chinese