China Released the Kraken wip again...
“All” Chinese virtual currency exchanges must stop trading to remain compliant, regulators have announced.
Information slowly appearing from China appears to confirm that trading will no longer be legal for Bitcoin-to-fiat platforms.
Bitcoin prices are already reacting, with 24-hour losses approaching 21% at $3000.
Cryptocurrency CEOs have reacted to BTCChina and now other exchanges shutting down with firm plans for the future.
Speaking in emailed comments, several industry players said that while markets were reacting harshly to Chinese regulatory moves, the long-term benefits for Bitcoin’s ethos and therefore stability were clear.
“The price is always a solid metric of the markets’ greed and fear, and reflects regulatory uncertainty at the moment,” Leverj CEO Bharath Rao commented.