China Bitcoin Exchanges Will Trade Over-the-Counter - page 2.

squatz1

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Quote from: mk4 on November 05, 2017, 08:56:49 PM

I knew it! I've been hearing a few rumors about Chinese exchanges coming back in the future. This is definitely good news, whether or not the legalization will be this year or not. I'm expecting a price as soon as exchanges open back again. Looks like the bull is here to stay for a while.

Well the price has steadily increased without Chinese exchanges so I'm not thinking they're going to be doing much with/without Chinese exchanges getting back into it.

Plus I think the only reason this is being leaked is that someone in China is going to be getting paid off, as they're going to be allowed to trade Bitcoins -- corrupted officials cave when money is around.

Still, good news nonetheless.

TagaMungkahi

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Cryptocurrency doesn't need China at all but i will accept this move from them, prohibiting these exchanges is for chinese traders then let it be, My only wish is to make Chinese Government to rethink on how should they handle cryptocurrencies.

mk4

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I knew it! I've been hearing a few rumors about Chinese exchanges coming back in the future. This is definitely good news, whether or not the legalization will be this year or not. I'm expecting a price as soon as exchanges open back again. Looks like the bull is here to stay for a while.

entrepmind23

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Huobi Bitcoin exchange will begin offering over-the-counter (OTC) services for Chinese traders soon, as announced by CEO Lin Li. This news came as traditional Chinese crypto-to-crypto exchanges breathed their last breath.

Heavy regulation has forced Chinese exchanges to rethink their business models. As of 1 November, trading cryptocurrencies on open Chinese exchanges is henceforth prohibited, and in response, they are considering over-the-counter transactions. This would enable traders to purchase digital currency (i.e.Bitcoin) using fiat currency such as the Chinese yuan. Timeline for introducing this feature is yet unannounced. More here: https://cryptoanswers.net/china-bitcoin-exchanges-trade-over-the-counter/

While bitcoin world is moving on without them, apparently they will be back sooner. China would not want to lose the opportunity to have some share of the crypto market so they will be back. What do you think will be the effect of it in the price of bitcoin and other crypto when they come back?

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