The Satoshi Revolution – Chapter 1 Now Available!

Last week, I made a post about The Satoshi Revolution, a book being serialized for free in its entirety on Bitcoin.com.

This week, I'm making this post as a reminder to anyone who might have forgotten about it, or for those who might not have known the book existed.

You can find it all right here.

There also appears to be great news from China too...

Welcome Back China?

Perhaps the biggest piece of news to come out today, is that China is back in business (or closer to being back in business). An article, also from bitcoin.com, states:

Chinese media outlet Jinse.com has reported that laws governing the use of virtual currencies in China will be enacted on October 1st 2017. Jinse states that Chinese cryptocurrency regulations were incorporated into the nation’s “General Principles of the Civil Law of the People’s Republic of China” legislation, which was voted on and passed on March 15th.

This sounds like very promising news. Since the ICO ban, then the following ban on exchanges, we've seen a lot of FUD surrounding from China, even to the point where people were worried bitcoin miners in the country would be forced to leave.

But now? It seems like China is simply going to regulate.

The article also states:

The Jinse report suggests that cryptocurrencies will be treated as “virtual property” under Chinese law.

This is what many people - the ones didn't panic at least - expected would happen when the Chinese news first came out.

China has what could be described as a tradition when it comes to banning things, only to bring in legislation and allow things to continue at a later date (under the supervision of the government of course).

One other quote of interest:

The Chinese government’s decision to cease the operations of all cryptocurrency exchanges except for Okcoin and Huobi right before the nation’s virtual currency regulations are set to come into effect, has led to speculation that the surviving exchanges may be the only cryptocurrency exchanges permitted to operate in China moving forward.

I think that's a bit of bad luck for the exchanges that are set to close, but I guess there isn't much they can do about it. It seems China has chosen its exchanges of choice, put in place laws to regulate matters, and will now back with the rest of the world in being part of the wider bitcoin and cryptocurrency community.

That can only be a good thing.

Thanks for viewing!