Chinese Bitcoin Executive Travel Ban

Beijing News reported that, according to insiders, executives of Chinese bitcoin trading platforms are not to leave the country. The news said that Chinese authorities "expect" full cooperation.

According to the news report on monday,

"A number of insiders said that current executives, owners, shareholders, and managers of bitcoin trading platforms are not allowed to leave Beijing. In accordance with regulatory requirements, shareholders, owners, and financial executives must fully cooperate with the ongoing investigation during the closure process in Beijing."

China makes up a good portion of bitcoin trading.

This has added a good deal more concern andmarkets are definitely reacting.

According to ethnews, "Although the alleged prohibition singles out “bitcoin executives,” the injunction would likely apply to people in management positions at virtual currency trading platforms more broadly."

Huobi and OKCoin, Chinese exchanges, will cease operations as of October 31, 2017. BTCChina, one of the largest Chinese exchanges, will also be ending all trading.

Although prices will suffer and the way bitcoin and other alt coins are traded is changing, but this may not be a bad time to scoop up some potentially profitable coins. (NEVER invest more than you can afford to lose)