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RE: Chinese Exchange to Launch Platform Based Outside of the Country

in #bitcoin7 years ago

Some random thoughts:

  • A ban on crypto-exchanges on Chinese mainland is indirectly a blow to Chinese miners, as it will be harder for them to convert bitcoins to yuan, which is needed to pay for electricity, salaries and misc.
  • The target for the ban is probably Chinese population (and Chinese institutional investors) - moving the exchange overseas will make it harder for the target group to trade crypto-currencies for fiat (as the banks most likely will block the Chinese from moving their yuans to/from the exchanges).