China: After Banning Exchanges, Authorities Move To Close ‘Exchange-Like Services’
From Cointelegraph
Chinese authorities are quietly stepping up a crackdown on cryptocurrency exchanges to include “market-making” platforms and similar services, according to anonymous sources cited by Bloomberg in an article Monday, Jan. 15.Read more: https://cointelegraph.com/news/china-after-banning-exchanges-authorities-move-to-close-exchange-like-servicesAs attention focuses on South Korea’s regulatory battle with cryptocurrency trading, Bloomberg reports that across the border, where official crypto-to-fiat exchanges have been banned since September, “exchange-like services” are now also on officials’ radar.
According to anonymous sources, the government now “plans to block domestic access to homegrown and offshore platforms that enable centralized trading” while remaining silent on ”how policy makers define such platforms.”
Ugh, just what we don't need. More FUD coming out of Asia about regulatory crackdowns. It seems the market was able to recover easily from the China exchange crackdown earlier in 2017 because Korea was flooding into the market. Now we have China cracking down further while the Korean justice minister is shooting his mouth off about impending crackdowns there. Damnit Asia get your shit together!
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EXACTLY @contentjunkie !! And I hope the get their shit together soon !!! Do you think this will last , or will it turn around soon !?!? upped and resteemed
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China has established for a long time that they want things done their way and that the want to keep control of the power. These domestic platforms as well as offshore represent a threat to their power. I'm imagining that China will soon have their own system and governement program in place for buying and selling cryptocurrency so that they can choose which coins they want to list and keep their Big brotherly eye on their people.
Lol, Well the Asians are finding out about BitShares so don't worry!
This is Google Trends for China. They aren't even supposed to be on Google! Those Rouge mavericks!
I'm deleting my comments.
Being down voted by Content censoring whales sucks
and hurts minnows who only earn 0.01 per post/comment anyhow
This whale BS will kill STEEM imho
once one country bans one thing, one thing will go rise quickly. :)
good luck for us.
This is not good news,really hope there are no crackdowns
Is this what’s been causing the recent “down” market? I supposed combined with the South Korea news? It is a shame that they’re spreading FUD! Especially South Korea, who seemed to be big proponents of cryptocurrency from early on.
Really hope this somehow doesn't get passed in China. When it was about to "go down" in South Korea crypto plummeted.
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