The Chinaman Giveth, and the Chinaman Taketh Away

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How low will it go?

http://finance.jrj.com.cn/tech/2017/09/08211823086220.shtml

Regulators said:
Bitcoin trading platform has become illegal economic activities Money laundering and bankers manipulate the price of looting of retail channels, should be banned as soon as possible.

Money laundering with Bitcoin can bypass the regulation of the transfer of funds, especially in China, there are still capital controls in the case of such acts should be introduced as soon as possible regulatory measures.

bets a bit currency trading platform, not a ban on Bitcoin. The banned platform is a channel to cancel a large amount of currency and currency exchange.

Professor Deng Jianpeng, a professor at the Central University for Nationalities, found that "up to 90% of ICO projects are currently suspected of fraud."

At present, China's regulators most concerned about is that Bitcoin has become illegal means of money laundering. At the same time, Bitcoin is also the main means of payment for the underground economy.

Bitcoin in the absence of supervision of the secondary market transactions, the dealer manipulate the price, the price fluctuations are too large, but also easy to allow retail investors suffer losses.