Some quick news regarding China's Bitcoin Exchanges.
Closing date for China's bitcoin (and altcoins) exchanges is september 15 and october 31, 2017.
BTCC and ViaBTC already took steps - Huobi and OKCoin haven't made yet any comments.
from local exchange executives, issued on condition of anonymity, China’s regulators have now issued verbal directives indicating how they expect the businesses to wind down operations due to the fact that they are operating domestically without a formal license.
According to that document, the new regulations have a guidance on how to coordinate with local regulators and how they should handle banking relationships and customer data.
Translated text from the document here: China's Bitcoin Exchanges Receive Shutdown Orders and Closure Timeline - CoinDesk
Four exchanges, already made announcements for their closure, citing the statement issued by authorities on september 5 - BTCC, ViaBTC, Huobi and OKCoin.
I put below screenshots with their announcements.
The exchanges are still functional. That will be for clients to have time for fund withdrawals till the deadline made for the exchanges.
On Charlie Lee's twitter we have some retweets about some changes:
cnLedger on Twitter: "OKCoin & Huobi have announced to stop CNY <-> crypto-currency trading services on Oct 31
From exchanges listed on Coinmarketcap any of them could announce their closure tomorrow, next week, next month... who knows. Logically we should see closure to all of them and then a comeback to the accepted ones with proper licenses.
So, from my pov it means that some exchanges may come back with proper licenses and get in the exchange "game" again.
Also, it could appear new ones with same people from closed ones or maybe some operated under government power...
It seems that we go on a right path. The changes will come and the bitcoin should be tougher than before.
Feel free to comment and say what you think about it and share the love here with a resteem and on other social media
Cheers to all
my other crypto news:
- Bitcoin FUD / SLAP / or new BEGINNING - WHAT TO DO in this moments (Jaime Dimon threats, China bans) - september 15, 2017 — Steemit
- R3 startup has Sued RIPPLE - Blockchain companies backed by big banks — Steemit
plus more on my blog
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You can also read this article here
China Bitcoin's Exchanges news - Shutdown Orders and when they close - september 16, 2017