Hope it will be temporary.
It's definitely temporary. Even the ICO ban is temporary according to some officials. They are introducing licensing, not outlawing trading. As I understand it, it's order book exchanges dealing in CNY that are specifically prohibited (by laws that are already on the books), meaning that OTC trading might still be okay.
In fact, OTC trading better be okay -- otherwise, I don't know how miners can offload their rewards to cover their overhead costs. My feeling from the statement from NIFA: Mining, OTC trading, and exchange crypto-to-crypto trading are fine.
What makes me nervous: Bruce Fenton and Charlie Lee keep going on about how the Chinese exchanges may have been running a fractional reserve.
As I know, almost exchanger in China is changing from ".cn" to ".com" to get out of their government control.
OKEX announced that they are not subject to the ban. I haven't seen anything from Okcoin.com, so you're probably right in that regard. But Okcoin and Huobi both already have international sites, so I'm not sure how much difference it makes.
licences mean a lot of documents, insurance, money and time for approval. the chinesse exchangers are fucked.
even they get a financial license, they will be required to do due diligence, REAL KYC and AML. also, their shit fake volumes will be cut alot because they will have to be audited.
all the exchangers not only those from China must get these licenses. only in this way, the BTC market will be cleaned and the clients will have the peace of the mind that their funds are in safe.
you won't hear about BTC-e shit and many similar others. you won't beg for your funds to be returned and so on...
, just like Uncle Sam did, when outlawing gold in 1933)
