Buy the BTC dip!
NIFA, PBoC, local financial regulators and regional news publications have clarified that bitcoin is not illegal and that the government is planning on providing a licensing program for bitcoin exchanges in the upcoming months. Several bitcoin exchanges that are not eligible for licensing due to poor Anti-Money Laundering (AML) and Know Your Customer (KYC) systems and the failure to comply with existing regulations could face temporary suspension.
However, as of now Chinese financial regulators are focusing on providing stricter regulations and licensing program to exchanges, not on imposing a nationwide ban on bitcoin exchanges.
Congratulations @monish! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!