Crypto-Currency Exchanges Moving out of China
I predicted in a number of posts that crypto-currency exchanges would simply move out of China to avoid the owners conflicting with the authorities, and I have been proved correct. You can’t tell someone, and expect them not to make other plans immediately, “Nee How! Ehm, sorry… That million US Dollars you are making a week through facilitating Bitcoin, Ether and other crypto trades… You are going to have to close the platform down and stop making money this way. Because the Bank of China says so, and the government agrees!”
I mean, if you get sent to a Chinese prison, and your tissue-type matches a Party Official who needs a new liver, do you think you are going to keep that liver for long? Research that online if you don’t believe me!
The latest on this from Bitcoin.com:
Chinese cryptocurrency exchange ViaBTC has announced its intention to launch a trading platform based outside of China. The decision to establish an overseas-based platform follows announcements that the exchange will shut down operations in mainland China on September 30th…
Also from the same source:
Despite recent speculation that China may seek to extend its cryptocurrency crackdown to target mining, several major figures within the cryptocurrency community have refuted the rumors. Litecoin creator, Charlie Lee issued a tweet stating that “a trusted source says there’s no truth to China banning [bitcoin] mining or network.”
You can see my article about false news regarding this type of thing.