China Exchange Clarification before D Day.

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

Quote from: virtualfaqs on January 29, 2014, 06:25:41 PM

Quote from: ElectricMucus on January 29, 2014, 05:33:57 PM

Bitcoin (and everything related to bitcoin) is banned from all alibaba group sites (taobao, alibaba, aliexpress, alipay) and they are the way the vouchers are sold. There is the possibility of a cat and mouse game there with smaller competitive sites to get vouchers from.
I don't see any difference in the legal status between the two exchanges, I think it's both open to interpretation or if you will a legal gray area.

Ok technically every single sale here is against the TaoBao ToS correct?
http://s.taobao.com/search?q=BTCC%C2%EB&commend=all&ssid=s5-e&search_type=item&sourceId=tb.index&spm=1.6659421.754896237.1&initiative_id=tbindexz_20131226

As I understand it, yes. But TOS policy and enforcement can have some discrepancy.

virtualfaqs

hero member

Activity: 700

Merit: 500

Quote from: ElectricMucus on January 29, 2014, 05:33:57 PM

Bitcoin (and everything related to bitcoin) is banned from all alibaba group sites (taobao, alibaba, aliexpress, alipay) and they are the way the vouchers are sold. There is the possibility of a cat and mouse game there with smaller competitive sites to get vouchers from.
I don't see any difference in the legal status between the two exchanges, I think it's both open to interpretation or if you will a legal gray area.

Ok technically every single sale here is against the TaoBao ToS correct?
http://s.taobao.com/search?q=BTCC%C2%EB&commend=all&ssid=s5-e&search_type=item&sourceId=tb.index&spm=1.6659421.754896237.1&initiative_id=tbindexz_20131226

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

Quote from: virtualfaqs on January 29, 2014, 05:30:05 PM

I'd like to keep speculation out of this and just facts if possible.

Then move this topic to service discussion.

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

Bitcoin (and everything related to bitcoin) is banned from all alibaba group sites (taobao, alibaba, aliexpress, alipay) and they are the way the vouchers are sold. There is the possibility of a cat and mouse game there with smaller competitive sites to get vouchers from.
I don't see any difference in the legal status between the two exchanges, I think it's both open to interpretation or if you will a legal gray area.

virtualfaqs

hero member

Activity: 700

Merit: 500

What is the current state of China deposits in exchanges? Seeing as how tomorrow could be a big day, I'd like to get some clarification on this.

BTC China - Currently Legal. They are using payment vouchers. No 3rd Party Payment Processors. No Bank accounts.
Huobi - Currently Illegal or Gray area?? Deposits processed as domestic transfers to a business bank account.

Do I have this right?

Also Jan 31 (Jan 30 8AM PST to Jan 31 8PM PST) will be the last day to withdraw CNY from a 3rd party payment processor, but most of them have already discontinued this process.

I'd like to keep speculation out of this and just facts if possible.

Topic: China Exchange Clarification before D Day. (Read 887 times)