China's most powerful management agencies have strengthened electronic declarations in the territory with a comprehensive ban for all electronic money transactions and electronic money exploitation. Electronic money has been strictly managed by China from before, so far, it is even more difficult than before this goal has caused Bitcoin and other large currencies to reduce prices, as well as put pressure on the stocks related to money. Electronics and Blockchain. The agency of China, including central banks and banking, securities and foreign exchange agencies, has declared to work together to eliminate electronic money activities " Illegal ". In China, it is increasingly stricter to virtual money, now they have turned all activities related to them as illegal and sent one credit The brand shows that they plan to tough harder in implementing the rules
. Chinese central bank (PBOC) said the facilitating L If the electronic money transaction is illegal and they have a strict punishment plan to do so, including those who work for foreign platforms from within China. And national development (NDRC) said they will launch a national persecution for electronic money exploitation activities in an effort to completely eliminate this field. What came before? China Do not recognize electronic money as legal bidding and banking systems do not accept electronic money or provide related services
In 2013, the government has classified Bitcoin as a kind of virtual asset and for Knowing individuals are allowed to freedom to participate in online trading activities. However, at the end of that year, financial management agencies, including PBOC, banned banks and payment companies provided Services related to Bitcoin.M in September 2017, China banned the initial virtual money sale sessions (ICO) to protect investors and limit ripinated risks h. ICO sanctions also prohibit electronic money transaction platforms to convert legal bids into electronic money and vice versa. The restrictions make most trading platforms closed and transforming many activities Foreign. ICO operates also prohibit financial companies and payment companies that provide support services for ICO and electronic money, including account opening services, registration, transactions, statements and statements liquidity. By July 2018, 88 virtual money trading platform and 85 ICO platform withdrawn from the market, PBOC said. Why tighten the rules? The strong price increase of Bitcoin and coins Others in the past year have revived electronic money transactions in China, with investors seeking to contrary to the current regulations. That happens when the country is trying to develop its own official digital currency, becoming the first major economy to do so. Early this year, Chinese managers tightened the Limit prohibiting financial institutions and payment companies to provide services related to electronic money
A industry indicator said Bitcoin speculation activities have increased again and are invading "the safety of people's assets as well as breaking normal economic and financial order". Many Chinese investors Quoc currently trading on the platforms owned by Chinese trading floors has moved abroad, including Huobi and Okex. Meanwhile, China's unexplained electronic market has become bustling again, while the technical transaction offices do not work on social networks revived. Concentrated trading floors Enter China, including Binning and MXC, allowing Chinese individuals to open online accounts, this process only takes a few minutes. They also facilitate P2P transactions on the OTC market to help convert Chinese yuan into electronic money. Such transactions are done through banking or online payment channels like Alipay or WeChat Pay, although these channels have promised to conduct customer authentication and set up monitoring systems aimed at trading platforms and accounts to find out and prevent incompanuous transactions. Small investors also buy "trading tools" from electronic money mining companies, designers of different investment tools promise fast and fat profits. Arealement of declaration What is death? Although the electronic money value drops on Friday, this decline is less pronounced than the slip level seen in May when the State Council, or Chinese cabinet, the declaration will suppressing Bitcoin mining activities. The problem is whether China can find and punish platforms as well as violating good rules No. Some analysts said that based on what happened earlier, investors really wanted to be able to find out how to trade.Gaesh Viswanath Natraj, assistant financial professors at school . Dịch vụ:
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