But I might be missing the bigger picture here. China have been blocking a lot of other things, not related to BTC too. So it might just be a political thing.
Topic: China ban btc again (and again)! - page 3. (Read 5292 times)
Well would they rather decide, to suck on the dollar? Bigger countries it seems, want to decrease their dependancy on the dollar, so adoption of any other currency, should acctually, be welcomed.
But I might be missing the bigger picture here. China have been blocking a lot of other things, not related to BTC too. So it might just be a political thing.
But I might be missing the bigger picture here. China have been blocking a lot of other things, not related to BTC too. So it might just be a political thing.
China is never going to ban bitcoin....
Quote from: googletranslate
To protect the property rights and interests of the public, to protect the legal status of the yuan currency to prevent money laundering risks and maintain financial stability, at the end of 2013, the People's Bank of China, the Ministry of Industry and Information Technology, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission and other five ministries jointly issued a "Notice of risk prevention Bitcoin" (2013, 289 seniors) file (the relevant documents have been linked to the network),
standard consumer investment warning, that any non-contracted (no guarantee) investments have a risk of going up AND DOWN. this is allQuote from: googletranslate
the document requires all financial institutions and payment institutions may not engage in bitcoin related business not to provide customers with Bitcoin registration, trading, clearing and settlement services.
BANKS will not hand customers bitcoins! (or baked beans) 
Quote from: googletranslate
First, each branch should strengthen the work style of the importance of risk awareness bitcoin in the daily course of business for the bank account once found my registration for Bitcoin, trading, clearing, settlement, or to receive a head office about Bitcoin trading clients shall promptly take appropriate measures of information, and the results reported to the head office. Among them, the retail branch of the account by the department responsible for the gold guide, coordinate and supervise the account manager or contact the customer for processing personnel, company accounts by the branches of the company is responsible for guiding, coordinating and supervising the account manager contact the customer for processing.
if an account holder mentions their business plan is bitcoin related get account holders information and verify they have the appropriate documents (telecommunication regulations license) are supplied and valid by passing the information to the head office to look at.Quote from: googletranslate
Line with relevant requirements of the local people, the People's Bank shall request processing, the following requirements shall be processed if no relevant requirements:
if the account holder has NOT met relevant regulatory requirements (license reference numbers supplied) then:..... shut them down...its not a blanket ban on bitcoins. it a notice to ensure that any basement dwelling knobs that think they dont need FIAT regulation licenses, whilst still wanting to play with FIAT. purely because 50% of the business is bitcoin related.. should be shut down.
summary:
if your a bitoin business that ALSO sends fiat to customers, get a licence!
Yawn, probably more FUD. Half of the stuff from 'sources' has been either mistranslated or fake, though restricting banks from dealing with bitcoin isnt exactly a 'ban' on bitcoin either.
Today, CCB Bank(a Chinese bank) have a secret file leaked, which showed China Central Bank ordered commercial banks to ban bitcoin exchange's account.
This is the detail of this order is here :http://www.yibite.com/article-3819-1.html (Chinese)
anyone can use google translate for English?
This is the detail of this order is here :http://www.yibite.com/article-3819-1.html (Chinese)
anyone can use google translate for English?
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