To this day, there are still a lot of questions and uncertainties regarding the Bitcoin situation in China. While it is evident large exchanges will halt CNY trading, it remains to be seen if the mining sector will be affected as well.
For now, it does not appear this will be the case, and Charlie Lee recently stated as much on Twitter. However, there is no official source either confirming or countering Lee’s tweet.
Given China’s stance on Bitcoin and cryptocurrency these days, it is not entirely surprising that there are a lot of questions remaining to be answered. More specifically, we know the exchanges in the country will effectively halt the trading of Bitcoin and other altcoins linked to the CNY market.
That much is a given right now, although cryptocurrencies themselves can effectively be exchanged intermittently. The latter point confirms that China has no plans to outlaw Bitcoin by any means.
China isnt going to ban anything pertaining to bitcoin. They dont want to eliminate it, they want to profit from it. The Chinese government will end up having state run mining and exchanges.
In short, they just want their hand in it.....Just like Dimon and the other bankers.
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I hope your right... if the Chinese government run their own mining rigs and exchanges it will certainly help crypto's. This dream many people have of making tons of money and avoiding taxes will never work not even with crypto.
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All governments want to get their hands mixed into the flow of money as it goes by
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The news has been discussed a lot, hope any changes will be positive for our Tlind Messenger ICO.
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I'm not familiar with this ICO, have really lost interest in them... It's all about the top 10 crypto's for me :D
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If all exchanges in China are shut down, how do the miners in China cash out for their work ?
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