From 2009 Bitcoin birth, because of its innovative thinking , math and beautiful design , Bitcoin has developed in the world , many people think that bitcoins as a payment technology that can improve efficiency and reduce costs. Regulatory agencies around the world out of respect for innovation , given Bitcoin suitable for development , China's regulators are also very wisely gave Bitcoin relatively tolerant regulatory environment , and propose their own risk in the five ministries jointly file the case can be traded freely bitcoins .
However, we also see there are some problems bitcoins in China 's development, such as prices rose too fast , making the manipulator , the risk of lack of retail tips , etc., has led to the emergence of a number of small investors lost . As Bitcoin trading platform , currently appears on various issues , we do not shirk responsibility. Currently OKCoin, BtcTrade, fire currency network, bitcoin China , CHBTC five trading platform after deep reflection and discussion, decided to take a self- consistent action to promote positive development of Bitcoin .
Our joint commitment :
1, do Bitcoin transaction risk prompts to guide public investment concepts normal
2, do not participate in large marketing organizations and the nature of Bitcoin meetings or gatherings, meetings and lead the industry in the direction of technology development and application of innovative
3 , compliance with policies and regulations, in the framework of the operation of legal compliance trading platform before May 10 to stop financing new financing currency after currency to pay off all of the facility or stopping leveraged finance trading operations
4 , to curb excessive speculation and protect small investors , for a certain fee levied on high-frequency trading , the five trading platform will then discuss a unified rate
5 , to promote transparency in the process of trading platforms , control clearing , settlement risk link
6 , comply with the requirements of relevant state departments , strict real-name system certification, tracking suspicious transactions and perform anti-money laundering obligations feedback
7 , establish and improve the information disclosure mechanism , so that investors have full right to know
8 , regularly take the initiative to report the latest developments in the industry, the risk to the competent authorities , etc.
The following five Bitcoin trading platform for voluntary compliance of the agreement , and agreed to strengthen consultation and actively promote open and transparent Bitcoin transaction , let bitcoin healthy development in China , and accept the supervision of the parties.
Joint Statement Members:
OKCoin BtcTrade bitcoin currency network CHBTC China fire
did someone beat me to an English version?
edited for grammar on my part only.. and then pointed out something I think is interesting at the least lol
So TL;DR is something like this: warn public, no marketing, no cash in after 10.05 or ... no fractional reserve? or ... no more leverage for the traders?, then HFT tax = volume disappears, and finally "we will do what you want just please please"?
Did I get this right?