Topic: Insider: China gov warns citizen about the incoming crack down on exchangers - page 4. (Read 3480 times)
November 05, 2016, 03:14:46 PM
There's a clique inside the ruling Chinese government that wants to put a brake on the btc price climbing too high. They have engaged in these clandestine "leakings" of the news to manipulate the prices. They may continue to suppress the price. They want to lower the price down to 400 this year. They are aiming for 300 in January 2017.
November 05, 2016, 02:06:42 PM
Bitcoin market rate in CNY already falls below negative value compared to USD and EUR market.
Just like 2013, China gov uses "leak source" "local news" "rumors" to warn it's citizen about the incoming crack down actions on Chinese exchangers and sent out a clear and loud message: "Stay away from bitcoin now before the collapses. You have been warned."
Right now almost all top topics on Chinese bitcoin forum are about "Beware of the incoming gov/China central bank crack down on bitcoin". Still in denial? Ask your Chinese friends to read it for you.
There are also quite a lot Chinese mainstream media reported about this warning including:
《参考消息》 As the Chinese government's official news agency - https://en.wikipedia.org/wiki/Reference_News
《新华网》 - https://en.wikipedia.org/wiki/Xinhua_News_Agency
人民日报旗下的《国际金融报》 - sub agency of https://en.wikipedia.org/wiki/People's_Daily
Like it or not when these kinds of serious media report "things", it means it will become a reality in a short period in China.
Now, get ready for the incoming epic collapses for the Chinese fund cash out event.
There are also
http://www.cankaoxiaoxi.com/finance/20161104/1398956.shtml 中国将限制比特币兑美元 防止资金外流 China gonna limit bitcoin to stop capital outflows
http://news.xinhuanet.com/fortune/2016-11/03/c_129348631.htm 比特币交易变相换汇 风险重重 Bitcoin trading bypass China capital control
http://www.gfic.cn/2016/1103/5890032.shtml 单笔“换掉”500万元，用比特币转移人民币资产 Single trade with bitcoin, 5 millions CNY outflow beyond the borders
+many more reports:
http://finance.sina.com.cn/roll/2016-11-03/doc-ifxxnffr6697811.shtml
http://news.sina.com.cn/o/2016-11-10/doc-ifxxsfip4301214.shtml 比特币变相换汇恐遭限制 bitcoin bypass capital control, it might get limited
http://finance.jrj.com.cn/2016/11/03155121660993.shtml 政府考虑限制比特币变相换汇 China gov considering limit bitcoin for bypassing the capital control
http://epaper.jinghua.cn/html/2016-11/10/content_344422.htm 比特币变相换汇恐遭限制 bitcoin bypass capital control, it might get limited
https://hk.news.yahoo.com/%E6%AF%94%E7%89%B9%E5%B9%A3%E6%88%90%E8%B5%B0%E8%B3%87%E6%96%B0%E5%AF%B5-221127801--finance.html 比特幣成走資新寵
http://hk.apple.nextmedia.com/financeestate/art/20161104/19822241 人行擬堵塞比特幣走資
http://www.todaycommercialnews.com/economics/20855 傳內地堵比特幣走資- 加拿大商報Today Commercial News
etc etc
Bloomberg: http://i.imgur.com/AVQZ8Ku.gif
By Bloomberg News (Bloomberg) -- China’s regulators are studying measures to limit transactions that use bitcoins to take funds out of the country, according to people familiar with the matter. Officials are considering policies including restricting domestic bitcoin exchanges from moving the cryptocurrency to platforms outside the nation and imposing quotas on the amount of bitcoins that can be sent abroad, the people said. Regulators noticed recently that some investors bought bitcoins on local exchanges and sold them offshore, evading rules on foreign exchange and cross-border fund flows, the people added. They declined to be identified because the information isn’t public. Bitcoin has surged 21 percent since the end of September as the yuan’s declines accelerated, boosting speculation Chinese investors were buying the cryptocurrency as a hedge against further weakness. With the risk of quicker depreciation rising along with the odds of an impending U.S. interest-rate hike, policy makers are seeking to restrict outflow channels. Just a week ago, China limited the use of China UnionPay Co.’s cards to purchase insurance products in Hong Kong -- another way of taking cash out of the country. The digital currency erased a gain of as much of 2.6 percent before rising 0.8 percent to $736.22 as of 4:11 p.m. in Hong Kong, data compiled by Bloomberg show. The yuan has weakened 1.3 percent this quarter and was little changed on Thursday at 6.7618 a dollar. The government classified bitcoin as a commodity and not currency in 2013, placing it outside the purview of the foreign- exchange regulator, the people said. Several Chinese government bodies including the People’s Bank of China and the financial regulators said in a joint notice that year that bitcoin functioned like a digital commodity without the legal status of a currency. The central bank said in January it is studying the prospects of issuing its own digital currency and aims to roll out a product as soon as possible. The PBOC didn’t immediately respond to a faxed request for comment. While China dominates bitcoin mining and trading, the government has shown caution over its spread in the nation. In 2013, the PBOC barred financial institutions from handling bitcoin transactions.
Just like 2013, China gov uses "leak source" "local news" "rumors" to warn it's citizen about the incoming crack down actions on Chinese exchangers and sent out a clear and loud message: "Stay away from bitcoin now before the collapses. You have been warned."
Right now almost all top topics on Chinese bitcoin forum are about "Beware of the incoming gov/China central bank crack down on bitcoin". Still in denial? Ask your Chinese friends to read it for you.
There are also quite a lot Chinese mainstream media reported about this warning including:
《参考消息》 As the Chinese government's official news agency - https://en.wikipedia.org/wiki/Reference_News
《新华网》 - https://en.wikipedia.org/wiki/Xinhua_News_Agency
人民日报旗下的《国际金融报》 - sub agency of https://en.wikipedia.org/wiki/People's_Daily
Like it or not when these kinds of serious media report "things", it means it will become a reality in a short period in China.
Now, get ready for the incoming epic collapses for the Chinese fund cash out event.
There are also
http://www.cankaoxiaoxi.com/finance/20161104/1398956.shtml 中国将限制比特币兑美元 防止资金外流 China gonna limit bitcoin to stop capital outflows
http://news.xinhuanet.com/fortune/2016-11/03/c_129348631.htm 比特币交易变相换汇 风险重重 Bitcoin trading bypass China capital control
http://www.gfic.cn/2016/1103/5890032.shtml 单笔“换掉”500万元，用比特币转移人民币资产 Single trade with bitcoin, 5 millions CNY outflow beyond the borders
+many more reports:
http://finance.sina.com.cn/roll/2016-11-03/doc-ifxxnffr6697811.shtml
http://news.sina.com.cn/o/2016-11-10/doc-ifxxsfip4301214.shtml 比特币变相换汇恐遭限制 bitcoin bypass capital control, it might get limited
http://finance.jrj.com.cn/2016/11/03155121660993.shtml 政府考虑限制比特币变相换汇 China gov considering limit bitcoin for bypassing the capital control
http://epaper.jinghua.cn/html/2016-11/10/content_344422.htm 比特币变相换汇恐遭限制 bitcoin bypass capital control, it might get limited
https://hk.news.yahoo.com/%E6%AF%94%E7%89%B9%E5%B9%A3%E6%88%90%E8%B5%B0%E8%B3%87%E6%96%B0%E5%AF%B5-221127801--finance.html 比特幣成走資新寵
http://hk.apple.nextmedia.com/financeestate/art/20161104/19822241 人行擬堵塞比特幣走資
http://www.todaycommercialnews.com/economics/20855 傳內地堵比特幣走資- 加拿大商報Today Commercial News
etc etc
Bloomberg: http://i.imgur.com/AVQZ8Ku.gif
By Bloomberg News (Bloomberg) -- China’s regulators are studying measures to limit transactions that use bitcoins to take funds out of the country, according to people familiar with the matter. Officials are considering policies including restricting domestic bitcoin exchanges from moving the cryptocurrency to platforms outside the nation and imposing quotas on the amount of bitcoins that can be sent abroad, the people said. Regulators noticed recently that some investors bought bitcoins on local exchanges and sold them offshore, evading rules on foreign exchange and cross-border fund flows, the people added. They declined to be identified because the information isn’t public. Bitcoin has surged 21 percent since the end of September as the yuan’s declines accelerated, boosting speculation Chinese investors were buying the cryptocurrency as a hedge against further weakness. With the risk of quicker depreciation rising along with the odds of an impending U.S. interest-rate hike, policy makers are seeking to restrict outflow channels. Just a week ago, China limited the use of China UnionPay Co.’s cards to purchase insurance products in Hong Kong -- another way of taking cash out of the country. The digital currency erased a gain of as much of 2.6 percent before rising 0.8 percent to $736.22 as of 4:11 p.m. in Hong Kong, data compiled by Bloomberg show. The yuan has weakened 1.3 percent this quarter and was little changed on Thursday at 6.7618 a dollar. The government classified bitcoin as a commodity and not currency in 2013, placing it outside the purview of the foreign- exchange regulator, the people said. Several Chinese government bodies including the People’s Bank of China and the financial regulators said in a joint notice that year that bitcoin functioned like a digital commodity without the legal status of a currency. The central bank said in January it is studying the prospects of issuing its own digital currency and aims to roll out a product as soon as possible. The PBOC didn’t immediately respond to a faxed request for comment. While China dominates bitcoin mining and trading, the government has shown caution over its spread in the nation. In 2013, the PBOC barred financial institutions from handling bitcoin transactions.
Jump to: