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ETH · 48w

Domestic Exchanges Will Be Banned and the PBOC Monopolizes Currency Issuance

stead of simply focusing on new ways of fundraising.

“Blockchain itself is a good technology, and an ICO is not the only way through which one can carry out research into it.”

Sheng agreed that though ICOs are banned and virtual currency exchanges need to be tightly regulated, blockchain technology itself should be valued.

Update: Bitkan announced last night that they will suspends OTC services on Sep 14th in the context of regulatory uncertainty. PZ, convener of China Bitcoin Roundtable and Zhao Letian, creator of Dcash posted last night that both bitcoin exchanges and information intermediaries will be shut down.

An industrial player revealed that China Securities Regulatory Commission(CSRC) and the PBOC have different thoughts on whether exchanges should be shut down. He noted that CSRC wants to ban bitcoin exchanges once and for all, but the PBOC allows some leading exchanges to legally operate under new rules. (Hush, hush) And a digital currency researcher believes that it will take years before bitcoin exchanges all be banned.

 

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