China Plans to Shut Down Bitcoin Exchanges, Allow OTC

China shuts down Bitcoin mining companies in southwest

China shuts down Bitcoin mining companies in southwest submitted by subsonico to Bitcoin [link] [comments]

China shutting down Bitcoin exchanges

submitted by mberre to Economics [link] [comments]

China Shuts Down Bitcoin Mining Farms

https://www.wsj.com/articles/china-quietly-orders-closing-of-bitcoin-mining-operations-1515594021
Any thoughts on how this will effect payouts and transaction fees/time? My understanding is China is responsible for 80% of bitcoin mining.
submitted by mouf32 to NiceHash [link] [comments]

China shuts down Bitcoin mining companies in southwest

China shuts down Bitcoin mining companies in southwest submitted by BitcoinAllBot to BitcoinAll [link] [comments]

China shuts down Bitcoin mining companies in southwest

This is an automatic summary, original reduced by 48%.
The county is the home of a wealthy mining industry in southwest China's Sichuan province, and the purpose for the phenomenon is doubtful.
The shutdown is made more complicated by the fact that the price of Bitcoins has exceeded 10,000 RMB, and many exchange platforms are battling with for mining assets after the Central Bank of China banned the deposit and withdrawal of Bitcoins.
Mining Bitcoins is a global effort, so even if mining is banned somewhere, the total amount of Bitcoins does not change, and so the global price will not fluctuate, an industry insider said.
A staff member from the information office of the State Gird Sichuan Electric Power Company said managing the electricity consumption of the Bitcoin mining companies is beyond their supervision, as those companies directly use electricity generated by the hydropower stations.
A local official said the closure of the Bajiaoxi Mining Company aims at cracking down on illegal cash operations and on controlling systemic risks.
Zhang Jun, a senior researcher with the Taiyiyun Strategic Research Center, said if the mysterious closure of the mining companies forced them to conceal their mining activities, it would harm supervision efforts and would not improve the livelihood of mining workers.
Summary Source | FAQ | Theory | Feedback | Top keywords: mining#1 company#2 Bitcoin#3 industry#4 shutdown#5
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China shutting down Bitcoin exchanges

China shutting down Bitcoin exchanges submitted by knight222 to btc [link] [comments]

China shutting down Bitcoin exchanges

This is the best tl;dr I could make, original reduced by 51%. (I'm a bot)
China is moving forward with plans to shut down Bitcoin exchanges in the country, starting with trading platforms in key cities.
All Bitcoin exchanges in Beijing and Shanghai have been ordered to submit plans for winding down their operations by 20 September.
According to a document leaked online by users on the social network Weibo that was seen by Coindesk, Chinese regulators ordered all cryptocurrency exchanges in Beijing to stop registering new user registration by midnight local time on 15 September, and to notify users publicly when they formally close.
All exchanges are required to send regulators a detailed "Risk-free" plan of how they intend to exit the market before 18:30 local time on Wednesday 20 September.
Shareholders, controllers, executives, and core financial and technical staff of exchanges are also required to remain in Beijing during the shutdown and to co-operate fully with authorities.
"China is shutting the exchanges down for good reasons - I think it's right they're being cautious at this time," Paul Armstrong, an emerging technology adviser and author of the book Disruptive Technologies, told the BBC. "Bitcoin is by proxy unregulated and peer-to-peer, it's a very volatile currency."
Summary Source | FAQ | Feedback | Top keywords: exchange#1 Bitcoin#2 Chinese#3 China#4 currency#5
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China shutting down Bitcoin exchanges

China shutting down Bitcoin exchanges submitted by BitcoinAllBot to BitcoinAll [link] [comments]

China shutting down Bitcoin exchanges

China shutting down Bitcoin exchanges submitted by PostNationalism to economy [link] [comments]

Bitcoin mentioned around Reddit: China shutting down Bitcoin exchanges /r/Economics

Bitcoin mentioned around Reddit: China shutting down Bitcoin exchanges /Economics submitted by BitcoinAllBot to BitcoinAll [link] [comments]

China Crypto Roundup: President Xi Praises Blockchain, Bitcoin Miners Shut Down, Price Crash Triggers Debates

submitted by raaner12 to Altcoinss [link] [comments]

03-08 04:54 - 'Rumors: is China shutting down Miners in China due to Corona Virus?' (self.Bitcoin) by /u/hrdwrk1 removed from /r/Bitcoin within 100-110min

'''
I ya heard from friend that Chinese govt is cracking down on bitcoin miners due on ongoing corona virus, they are cracking down on miners, especially who are stealing energy in this times of need.
Just wondering if anyone know about this ?
'''
Rumors: is China shutting down Miners in China due to Corona Virus?
Go1dfish undelete link
unreddit undelete link
Author: hrdwrk1
submitted by removalbot to removalbot [link] [comments]

Beijing court rules that “there are no laws that forbid the investment and trading of bitcoin” and “people have the right to freely participate in bitcoin tradings at their own risk."

This is the best tl;dr I could make, original reduced by 28%. (I'm a bot)
A Beijing district court dismissed a lawsuit against Chinese bitcoin exchanges, stating "People have the right to freely participate in bitcoin trading at their own risk", the Beijing Morning Post is reporting.
He sued bitcoin exchanges, including Huobi(火币), to get his money back, arguing, "According to Karl Marx's The Two Factors of the Commodity: Use- Value and Value, the commodity should have the use-value and value, and the bitcoin has no value and use-value, and cannot be identified as a commodity ... so bitcoin does not exist. Therefore the previous trades should be invalidated."
The court ruled in favor of Huobi and other bitcoin exchanges citing there are no laws forbidding the investment and trading of bitcoin.
The court judgement also states that, according to China's relevant laws and regulations, bitcoin is not issued by the monetary authorities, does not have legal and monetary attributes, thereby bitcoin is not a currency issued by government and "There are no laws that forbid the investment and trading of bitcoin" and "People have the right to freely participate in bitcoin tradings at their own risk".
In response, all major domestic bitcoin trading platforms, including one of China's largest bitcoin exchange platform-BTC China-shut down bitcoin trading.
The district judge said, "These financial platforms generally advocate that what the seven ministries and commissions have halted is the transaction between cryptocurrencies, rather than between the virtual currency and the RMB transaction. So it's not touching the red line." Adding that at present, the legal attributes of wealth management products such as bitcoin funds have not been clearly defined yet.
Summary Source | FAQ | Feedback | Top keywords: bitcoin#1 trades#2 exchange#3 court#4 Value#5
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Bitcoin Tumbles on Report China to Shutter Digital Currency Exchanges

This is the best tl;dr I could make, original reduced by 57%. (I'm a bot)
NEW YORK - Bitcoin fell sharply on Friday after a report from a Chinese news outlet said China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback.
Sources close to a cross regulators committee that oversees online finance activities told Chinese financial publication Caixin that authorities plan to shut key bitcoin exchanges in China.
Two sources in direct contact with officials at three Chinese bitcoin exchanges - Beijing-based OKCoin, Shanghai-based BTC China, and Beijing-based Huobi - said the platforms told them that they have not heard anything from the Chinese government.
Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said there was confusion over whether China would close bitcoin exchanges following the ICO ban.
Jehan Chu, a partner at Jen Advisors, a Hong Kong-based early-stage blockchain venture capital firm, noted that should China shut down bitcoin exchanges, it will not be the end of the crypto-currency world in the country.
Blockchain, a digital ledger of transactions underpinning bitcoin, has leapt to prominence as it enable users to track and record assets across all industries.
Summary Source | FAQ | Feedback | Top keywords: Bitcoin#1 China#2 exchanges#3 Chinese#4 crypto-currency#5
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China: All Bitcoin exchanges in Beijing and Shanghai have been ordered to submit plans for winding down their operations by 20 September.

This is the best tl;dr I could make, original reduced by 51%. (I'm a bot)
China is moving forward with plans to shut down Bitcoin exchanges in the country, starting with trading platforms in key cities.
All Bitcoin exchanges in Beijing and Shanghai have been ordered to submit plans for winding down their operations by 20 September.
According to a document leaked online by users on the social network Weibo that was seen by Coindesk, Chinese regulators ordered all cryptocurrency exchanges in Beijing to stop registering new user registration by midnight local time on 15 September, and to notify users publicly when they formally close.
All exchanges are required to send regulators a detailed "Risk-free" plan of how they intend to exit the market before 18:30 local time on Wednesday 20 September.
Shareholders, controllers, executives, and core financial and technical staff of exchanges are also required to remain in Beijing during the shutdown and to co-operate fully with authorities.
"China is shutting the exchanges down for good reasons - I think it's right they're being cautious at this time," Paul Armstrong, an emerging technology adviser and author of the book Disruptive Technologies, told the BBC. "Bitcoin is by proxy unregulated and peer-to-peer, it's a very volatile currency."
Summary Source | FAQ | Feedback | Top keywords: exchange#1 Bitcoin#2 Chinese#3 China#4 currency#5
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China Shut Down Crypto Hype - Definitely Don’t Support Bitcoin

submitted by n4bb to CoinPath [link] [comments]

Reports: China orders bitcoin exchanges to shut down

submitted by bobcobble to worldnews [link] [comments]

Exclusive: China Plans to Shut Down Bitcoin mining operations, while Bank Of China Keep talking with Ripple

Exclusive: China Plans to Shut Down Bitcoin mining operations, while Bank Of China Keep talking with Ripple submitted by italyluxurycarhire to Ripple [link] [comments]

PSA: China has not banned bitcoin. China has not shut down exchanges. China has not said it WILL shut down exchanges. The exchanges are up and running.

Edit: Turns out BTCChina is volunatirly suspending services at the end of September
submitted by BakersDozen to Bitcoin [link] [comments]

China’s bitcoin miners in crisis after Beijing shuts down exchanges

China’s bitcoin miners in crisis after Beijing shuts down exchanges submitted by _smudger_ to Bitcoin [link] [comments]

Wall Street Journal - China to Shut down Bitcoin Exchanges

Wall Street Journal - China to Shut down Bitcoin Exchanges submitted by alotosports to ethtrader [link] [comments]

What would happen to Bitcoin if China shut down its mining pools, about 80% of the networks hashing power?

submitted by esdotvee to BitcoinBeginners [link] [comments]

Mark Cuban on China: Shut down all Chinese IPOs US Lawmakers Urge China To Shut Down Its Wet Markets China coronavirus: Authorities shut major tourist sites including the Forbidden City- BBC News 7 reasons China shut down exchange.....Crypto Gamer China shuts down multiple cities in an effort to curb coronavirus outbreak

China Coronavirus force cryptocurrency mining operations shut down ahead of Bitcoin halving Cryptos | Feb 07, 03:37 GMT China Coronavirus continues to disrupt business activities; crypto mining China Plans to Shut Down Bitcoin Exchanges, Allow OTC Trading: Reports Author: Samburaj Das @sambdas Multiple Monday reports have added to speculation that Chinese authorities are planning to ban bitcoin trading on domestic exchanges, with no plans to stop non-commercial, over-the-counter transactions. Miners in the resource-rich Sichuan region of China would be counting their losses after the government released a directive to halt all Bitcoin mining in the region.. In the memo that was released, the government officials asked all the mining outfits and resulted in business to shut down for good with all officials given a directive to help miners through the process. Bitcoin fell sharply on Friday after a report from a Chinese news outlet said China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback. English Español China France Germany Japan Cotchett said that Twitter was "quick to shut down the Bitcoin scam in a day," while Youtube "allowed the Bitcoin scam to go on for months."

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Mark Cuban on China: Shut down all Chinese IPOs

Cryptocurrency - China Shut down Local Bitcoin Exchanges BTCC OKCOIN future in China? Find Out - Duration: 12:21. Shoaiby World 358 views. 12:21. This video is unavailable. Watch Queue Queue. Watch Queue Queue Queue Mark Cuban discusses what strategies he might use to deal with trade issues with China without effecting the American consumer. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo ... Mining farms in Sichuan, China shut down equipment due to a shortage of electricity, which due to the delay of the rainy season. According to local media, since May the load onSichuans electricity ... Chinese Navy Issues Angry Warning to US Plane in South China Sea - Audio Recording - Duration: 7:36. AiirSource Military Recommended for you

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