For all of you interested in the future of Bitcoin in China
This is not my personal writing, it's from my daily Crypto Market Update I get. Here is the link to Mr. Wu's Twitter account where you can find the same info: https://twitter.com/jihanwu
According to recent reports from the country’s National Internet Finance Association (NIFA), bitcoin is not ‘**illegal**,’ but exchanges may face tighter regulatory supervision and might have to cease operations **temporarily** until they are licensed.
Bitmain’s Jihan Wu explained to his Twitter followers that **China has not banned Bitcoin**. Further Mr. Wu detailed that exchanges needed licensure and the same thing would happen in the U.S. if trading platforms didn’t have a license.
"None of the Bitcoin exchanges in China have licenses that are required for order book exchange. Such law is older than Bitcoin. Because some establish in China that Bitcoin exchanges need to stop operations right now does not mean that they cannot open again once with a license."