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Bitcoin News

Latest Bitcoin and Cryptocurrency News

Here at Bitcoin News section, you’ll find the latest news on new products, features and news items that relates to crypto currency, altcoin, and virtual currency, worldwide. Browse latest bitcoin and other cryptocurrency news about new businesses that accepts bitcoin and other cryptocurrencies as payment processor.




  • Video Review: 10 Reasons Bitcoin Price Will Destroy All-Time Highs in 2017

    ​In my writing career, I have never done a Video Review before, as I have never a Bitcoin-related video worthy of a review, but this video inspired me. Hopefully, this doesn’t come across as promotional, because my goal is to educate, not remunerate. Since this video is not promoting any product, except for the digital asset’s value itself, a worthy ideal, in my opinion, let’s look at a new video called “10 Reasons Bitcoin Price Will Destroy All-Time Highs in 2017.”

    I will place the video below this article, for your convenience, but before you scroll down, let me give you an outline. The video is current and up-to-date, as it is only about ten days old, and it seeks to affirm the general optimism that surrounds Bitcoin’s potential price for 2017. It is produced by the “Renegade Investor” YouTube channel and is on the long side, standing at over twenty-six minutes.

    What you give up in speed you get back in scope. The most impressed aspect to me about the video is the comprehensive research of each point. Plenty of sources were enlisted in the creation, and the reasoning is all sound logic, in a matter-offact type manner of delivery. I was actually expecting 1-2 of the sections to be dismissable fluff, but this video did not fail to deliver value on each and every point noted. All points are legitimate and worthy of consideration for the new investor, except for one.

    The fifth item listed in Bitcoin’s favor is “Scaling Segregated Witness” and it intimates that SegWit should be adopted by the 95% of miners who signal they're ready to employ it by this November. As is shown in a progress chart in the video, SegWit has remained in the 25% range for an extended period of time.

    I’m personally worried that SegWit will never gain adoption to allow the scalability features like The Lightning Network to take hold. The Lightning Network could allow Bitcoin to effectively scale from the current limits of seven transactions, or less, per second, to as many as 10,000 per second (Visa will tap out at about 24,000 transcations per second, not the 2000-4000 mentioned in the video.)

    The Renegade Investor also mentions a double of the effective block size just through SegWit adoption alone, when the actual increase is around 70% over current limits, but the video is very comprehensive, mentioning the sweeping mainstream adoption of Bitcoin into popular Japanese culture, how the current bond market will influence Bitcoin value, and the effects of Bitcoin eventually passing Gold’s market price. Even clips from The Keiser Report are used effectively.

    Finer details aside, this video provides a lot of value. If you know of someone who is on the fence about getting involved in Bitcoin, as an investment, I can safely recommend this video to persuade the masses. It doesn’t shill for any product and just provides solid value for those who want the current state of the Bitcoin. Feel free to share this.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • US$4 million bet on Peerplays blockchain, before crowdsale

    Debert, Nova Scotia - February 17, 2017 – Peerplays (www.peerplays.com), a peer-to-peer gaming and wagering platform designed to displace traditional sportsbooks and online casinos, has raised US$4 million in donations from strategic parties in advance of its crowdfund which will begin on Sunday, February 26, 2017.

    “We’ve had a lot of proactive interest from various players since we launched our test net a few months ago,” said Jonathan Baha’i, President of the Peerplays Blockchain Standards Association (PBSA), “and Peerplays has now grown into an international multi-party effort. We decided to accept early donations from those whom we are confident will bring strategic momentum far beyond capital.”

    On Peerplays, players will be able to wager bitcoin and other digital currencies on sporting events, casino games and online tournaments from anywhere in the world. Unlike traditional server-based gambling platforms, Peerplays is built on a blockchain which allows players to securely compete against each other in a provably-fair gaming environment without the need for a casino middleman.

    “Peerplays eliminates the high fees and counterparty risk of traditional gambling, and leverages smart contracts on the blockchain to create a frictionless gaming experience.” said Baha’i.

    “The token model is unprecedented, said Michael Maloney, Director of Intelligence at PBSA, “because token holders control the blockchain in every sense, from governance to proceeds. With Peerplays, each token holder receives reward payouts from every game played on the entire network, proportional to the amount of tokens they hold.

    “This technology will compress the entire gaming industry into a single blockchain,” said Maloney, “which is now recognized by large players in the space, many of whom we are in touch with.”

    The Peerplays crowdfund starts at 15:00 UTC on February 26, 2017. All donations, which will be held by an independent third-party trustee on behalf of PBSA, will be used to encourage and support the continued development of Peerplays. Upon launch of the Peerplays blockchain in spring 2017, players will be able to wager on games from anywhere in the world using the free downloadable app.

    PBSA was incorporated in December 2016 as a non-profit association under the Canada Not-for-profit Corporations Act (NFP Act) to encourage and support the development of the Peerplays blockchain and to promote provably-fair gaming standards for the Peerplays blockchain globally.

    Contact:

    Michael Maloney

    Director of Intelligence

    Peerplays Blockchain Standards Association

    47 Lockheed Crescent, Debert, NS, B0M 1G0

    +1 902 442 6266

    media@pbsa.info

    The published press release on this page should not be viewed as an endorsement by us. The website or company may be unsafe, untrustworthy, or illegal in your jurisdiction. You should do your own research before investing money in any company or website.

  • India Establishment Refuses To Legitimize Bitcoin

    Living in India has been pretty hectic, one would imagine, over the last ninety days as the country’s establishment has forced the populace to go from cash to digital payments virtually overnight. Bitcoin has been thrust into the limelight as well, commanding premiums as high as 35% ever since, as the nation looks for reliable economic options. Where does India go from here with Bitcoin?

    According to The Telegraph of India, the Indian government has rejected the idea of a separate regulator for digital money, and the new digital monetary segment of finance will be under the broad purvue of the Reserve Bank of India (RBI.) It will set up a Payments Regulatory Board headed by the RBI governor to handle digital payment gateways. Officials said a separate regulator would have led to multiple financial regulators.

    "Globally the trend is towards unified regulators and the RBI is a strong institution, hence the government chose to go with it," Indian officials said.

    Attempts by Bitcoin players to come under the ambit of the new body are unlikely to succeed as the government and the RBI are not in favor of legitimizing bitcoins as legal tender. Bitcoin players in the country, which include Zebpay, Unocoin, Coinsecure and Searchtrade, have recently formed a Virtual Currency Association of India, which has started lobbying the government to allow bitcoin trading.

    However, the RBI has taken a strong stand against virtual currencies such as bitcoins pointing out that it has not issued any license or authorisation for trade in them. Officials said the amendments they were working on would try to bring parity between physical cash and digital transactions along with interoperability and access to a unified payment infrastructure.

    The government has been trying to push digital payments ever since it banned old Rs 500 and Rs 1000 notes on November 8, which constituted some 86 percent of the country's currency by value, hoping to push more transactions towards being digital to monitor transactions. Government data show that between November 8, when demonetization was announced, and December end mobile payment transactions in volume terms rose a whopping 5000 percent.

    Indian tax experts say that the push towards digital money did not mean the end of black money. It is possible to generate and transfer black money or untaxed money even through the digital mode. Besides, cash deals do not necessarily mean untaxed transactions. However, the thinking within the government appears to equal cash with untaxed or "dirty" money, while digital transactions are likely to be "clean" transactions.

    "I want to tell my small merchant brothers and sisters, this is the chance for you to enter the digital world," India’s prime Minister Narendra Modi said. "It's correct that a 100 percent cashless society is not possible. But why don't we make a beginning for a less-cash society in India? We can gradually move from a less-cash society to a cashless society.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Bitcoin Price Will Spike Over 65% After Winklevoss ETF - Analyst

    Bitcoin price speculation is a very popular practice and a whole lotta fun for the Bitcoin faithful. Now that the issues in China seem to have settled down, and the market has normalized after a turbulent first few weeks of 2017, it is time to look at the next event on the horizon. That will come next month, as the Winklevoss ETF judgment is due in less than four weeks.

    Incredible upside potential for Bitcoin in 2017

    Any one of a myriad of things could happen in 2017 to send the digital currency “to the moon.” Anything from a global economic recession to a U.S. Dollar collapse, to a New York Stock Exchange market crash, have been forecast as possibilities. One thing we do know will happen is that on March 11th the SEC will make a determination on the future of the Winklevoss’ Bitcoin ETF (COIN) that has been in limbo for years now.

    This has caused Emerita Capital to do an extensive “thesis” on the effect that an approval of the ETF by the Securities Exchange Commission (SEC) would have on the market for Bitcoin thereafter. Taking out a highwater mark target price of $36,78 and a lowball figure of $551, they factored in a less than likely chance of approval and came up with the following figures.

    Our thesis is that the probability of a Bitcoin ETF approved in the near term has been misevaluated as a "very low chance" event by major investment and research firms,says Emerita Capital in their article. “We assign a probability of 35% for approval against 65% probability for rejection, making our final weighted average expected price $1645.45 or a +67.8% expected return above the current price.”

    The Winklevoss’ ETF is just the first strike out of many from the Bitcoin niche. Two other funds have filed similar applications that would offer ordinary investors broader access to bitcoin investing. The Bitcoin Investment Trust, run by tech entrepreneur Barry Silbert, and SolidX Bitcoin Trust, run by SolidX Partners, are waiting for the SEC to rule on their applications to be listed on the New York Stock Exchange. These also come up for review on March 30th (XBTC) and in October (GBTC).

    “Although its utility as a means of exchange is controversial, from a purely quantitative point of view the evidence suggests continued growth in transaction volume through the Bitcoin network, continued growth in interest from new markets, and continued growth in entrepreneurial attention,” Emerita Capital added.

    Keep in mind ‘Emerita Capital’ isn’t exactly Merrill Lynch. They have a couple of articles up on Seeking Alpha’s blog site, both within the last week, and they do not have their own website, or even a social signal listed anywhere on Google. This could be from credible financial advisors, or this could be from a couple of unemployed guys in a basement, for all we know. You make the call. The article is extensive and well-researched.

    However, this is one more analysis on this highly relevant subject than has been done by anyone else. At least someone has tried to put this into perspective for the community. Do you think Las Vegas bookmaker will create a betting line based upon this? Within the Bitcoin community, stranger things have happened.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Top Japanese Banks Invest in Top Japanese Bitcoin Exchange

    ​The industry of Bitcoin exchange companies has been making news all year long and this is going to continue as Japanese Bitcoin exchange leader bitFlyer has gained major financing from an unlikely source.

    In other major markets, like London and Australia, the banking establishment can’t wait to cast shade upon the encroaching Bitcoin industry, closing down corporate accounts without warning, and deliberately undermining their ability to do business. The banks in that market act against Bitcoin businesses out of fear. It appears quite the opposite is happening in the fast-growing Japanese fintech market.

    Banking corporations Mizuho Financial Group, Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group have invested 200 million yen ($1.75 million) in bitFlyer, according to the Asian Nikkei Review.

    These Japanese banks see a large upside in working with much smaller bitFlyer. You see, their virtual currency know-how could help the banks provide more secure and cheaper international wire transfers, which now cost several thousand yen for a 100,000 yen remittance. With a virtual platform, wiring money could also become available around the clock, instead of being confined to ATM hours.

    The fintech revolution is about more than virtual currency. Mizuho for one is teaming up with SoftBank Group in putting artificial intelligence to work screening personal loan applications.

    Bank of Tokyo-Mitsubishi UFJ will use AI to cultivate business with small and midsize enterprises. Earlier this month, BTMU acquired an equity stake in Xenodata Lab, a Tokyo startup that specializes in AI-based data analysis. The deal marks the bank's first direct investment in a startup. Xenodata raised 60 million yen from BTMU, Mitsubishi UFJ Capital, online brokerage Kabu.com Securities and corporate credit researcher Teikoku Databank.

    MUFG will use that technology to analyze the vast transaction data collected within the group over the years, then employ the results in proposals to small and midsize enterprises. The group eyes more business with smaller companies, anticipating relatively high lending margins even under the Bank of Japan's negative interest rate policy.

    Sectors beyond the banking industry are also studying fintech. Dai-ichi Life says it aims to combine life insurance with fintech through its investment in bitFlyer.

    The Japanese government is encouraging partnerships between the country's financial institutions and fintech startups. Banks' stakes in nonfinancial companies are now capped at 5% by law, while bank holding companies face a ceiling of 15%. However, amendments that could be enacted as early as this spring would allow banks to acquire fintech firms.

    The big financial companies see a need to quickly cultivating and adopting fintech in the face of rising competition. The expertise they can provide in making faster, more secure financial services possible can grow a larger but slower, commercial banks service capabilities much faster than they could do on their own. Great business is where you find it. Only if all financial institutions could see the big picture so clearly.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Blockchain will fundamentally transform exchange business – Funderbeam CEO Kaidi Ruusalepp

    “Blockchain can radically transform exchange sector”, believes Kaidi Ruusalepp, CEO at Funderbeam (exchange for startups) and former CEO at the Estonian Nasdaq subdivision. On March 9, she will speak at Blockchain&Bitcoin Conference Tallinn.

    Being experienced in managing Nasdaq, Kaidi founded Funderbeam – an investment and research platform for finding investors and startups.

    At the end of 2016, Funderbeam team started creating a blockchain-based exchange. As envisioned by founders, the exchange should be an open platform for trading participants. Several companies and two private investors (one of them is Skype founder Jaan Tallinn) supported the project financially. Total amount of investments has already exceeded 2.5 mln dollars.

    Kaidi Ruusalepp is sure that blockchain implementation will solve the problem of transparency in the trading process and become “a financial engine of companies’ growth”.

    What issues will be discussed at the conference?

    At Blockchain & Bitcoin Conference Kaidi Ruusalepp will tell you about new challenges faced by exchanges, banking sector and organizers of crowdsourcing campaigns.

    Her speech will be dedicated to prospects of using blockchain in exchange operations, experience of the Estonian Nasdaq business unit and tasks which should be tackled by authors of new projects (cases of Funderbeam and blockchain-based exchange).

    It will be interesting for startup founders, investors, stock trading participants and cryptocurrency entrepreneurs.

    To find out more visit the website of the conference.

    The published press release on this page should not be viewed as an endorsement by us. The website or company may be unsafe, untrustworthy, or illegal in your jurisdiction. You should do your own research before investing money in any company or website.

  • BitConnect Coin Continues Price Surge; Mobile Apps Launch Nears

    ​​​​The world of digital currency trading has been explosive over the last couple of years, with the introduction of Ethereum in 2015, and the value of Bitcoin more than doubling in 2016. It appears that young BitConnect Coin (BCC) is another new area of significant growth within the digital altcoin community as it adds newest features for 2017.

    The chart provided shows that after BitConnect Coin’s initial ICO launch, there was an drop in demand and value, which is typical of any new release of product, whether digital or physical. The question is do you fade into the darkness, or do you come back bigger and stronger than ever? If you are providing the market with real value, the market will lift you to new heights, as has been the case with BCC.

    Not only are prices more than doubling in recent weeks, but BitConnect Coin mining has had to increase mining difficulties to very high difficulties relative to other script mining coins in the altcoin market. BCC’s exchange volume is also growing significantly as the market awaits some new features heading to BCC later this month.

    With the BitConnect coin, users can expect a new level of empowerment through an open source platform connecting users socially and financially to a secure protected community of investors and lenders. BCC owners can also connect with your community and increase your wallet when coin price increase exponentially, allowing you to gain interest.

    There are many who are awaiting Android and IOS app launching this month, which should also increase demand and price. The mining of BCC will cease supplying new coins via miners around the end of 2017. Later in 2017, the BitConnect Coin will see more innovations and convenienmce features added. These will include the BCC Mining and Staking Pool Launch, providing a way for the community to earn, a BitConnect Coin reward with mining & minting, plus a new mobile wallet app & paper wallet. BitConnect coin will also gain its own “Smart Card” in 2017, bringing all of the everyday usability you demand in a digital currency.

    BitConnect has become simply the world’s fastest growing online Bitcoin community, rising from a concept in Q1 of 2016 to a top 100k website on Alexa less than one year later. For more information on the BitConnect ICO, go to

    https://bitconnect.co/

    https://bitconnectcoin.co/

  • Trump Administration Adds More Pro-Bitcoin Executives to Cabinet

    ​​The entire world has been abuzz about the total political and philosophical makeover Donald Trump is giving The White House in his first month in office. His ability to keep his word on campaign promises has also been rather unprecedented, as well, especially after such a short period of time.

    Now, President Trump seems ready to create the most pro-Bitcoin administration in history with his newest hire, by way of his Vice President Mike Pence, Mark Calabria. Mr. Calabria has served as director of financial regulation studies at the Cato Institute and was tabbed by Pence to become Pence’s “chief economist,” according to Politico.

    Calabria gives "a voice around the (White House economic) table that will give them their philosophical true North,said Jim Parrott, a senior adviser to former President Barack Obama’s National Economic Council. “Bernstein was in exactly the same role and was pretty influential in our world,” said Parrott. “He played the role on our team of representing an economist version of Biden.”

    According to the report originally posted by Politico's Lorraine Woellert, Calabria will take on a role similar to the one held by Jared Bernstein, who served as chief economist to former Vice President Joe Biden. Bernstein was a strong voice and public face for the Obama administration, speaking frequently on employment, economic inequality and the middle class.

    Calabria is not a rookie when it comes to the political rigors of life in Washington. Before joining the Cato Institute in 2009, Calabria worked on Capitol Hill as a member of the senior professional staff of the Senate Committee on Banking, Housing, and Urban Affairs. Calabria has been outspoken about his views on the value of Bitcoin and its underlying blockchain technology.

    “While I’m an economist, not a tech guy, I’m very excited about Bitcoin, as I am about alternative currencies in general, and perhaps even more interested in the blockchain,” in a 2015 interview.

    He mentioned that Bitcoin was pretty popular over at the Cato Institute, saying “pretty much everyone at Cato, to varying degrees, is supportive of Bitcoin. A number of Cato staff own Bitcoin, as well as a few other alt-currencies.” When it comes to Bitcoin being taxed like a commodity in the U.S., Calabria was very negative on that concept and had some words on how he hoped this would change in the future, a future he has arrived in and can help influence from his new position.

    I’m not a fan of it. It’s obviously not a commodity in the strictest sense. There is an argument for subjecting it to capital gains taxes, in the same manner, you’d apply to a stock or bond, but I do worry that the IRS’s decision will complicate and slow acceptance. If its value relative to the dollar stabilizes, this becomes less of an issue. Of course, if lots of users start to use any capital losses to offset other income, I wouldn’t be surprised if the IRS reconsiders. I hope with a future administration (Trump) this gets reversed.

    Now, it would seem, Calabria has his chance to alter Bitcoin’s perception and governance for the better in his new position. His hire follows pro-Bitcoin additions that include Peter Thiel to Trump’s Transition Team, and Mick Mulvaney as his choice to become the head of the Office of Management and Budget, someone who has been educating Washington’s politicians for years about Bitcoin.

    The U.S. Government will also be creating a Congressional Blockchain Caucus to further understand the value and capabilities withing the world of digital currencies and blockchain technology. The U.S. has had talks in the past with IBM about adopting a national digital currency. Nothing is expected anytime soon, as the U.S. is actually one of the most cash-friendly places in Western culture, but with many Bitcoin advocates joining the government, this may move those talks along.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • India’s Top Bitcoin Companies Form New National Bitcoin Alliance

    ​India is one of the hottest new Bitcoin markets in the world and the Reserve Bank of India has noticed. After a recent negative caution against using Bitcoin, this brought the fast-growing Indian Bitcoin community leaders together to form a new alliance that will work towards self-regulation and usage standards.

    The leading companies in India include Unocoin, Zebpay, Coinsecure and Searchtrade. They were in preliminary talks to form an alliance but this message from the RBI created a sense of urgency to begin construction of the Blockchain and Virtual currency Association of India.

    While we have been planning to create an association for some time, we finally pushed things after the circular, said Saurabh Agarwal, co-founder of Bitcoin trading and wallet company Zebpay ". “We had thought of reviving the old association - Bitcoin Alliance of India (formed in 2014 but now defunct), but we also decided to add blockchain companies and create a larger association.”

    These four companies can be considered founding members, but they expect to have as many as twenty member companies later this year, according to the Economic Times of India. The association will also focus on making Bitcoin trading safe by ensuring members follow strong KYC measures and by creating awareness among users about Ponzi schemes and other risks.

    The Reserve Bank of India had the following to say about the use of Bitcoin in India:

    The Reserve Bank of India advises that it has not given any license/ authorization to any entity/company to operate such schemes or deal with Bitcoin or any virtual currency. As such, any user, holder, investor, trader, etc. dealing with Virtual Currencies will be doing so at their own risk.”

    The warnings have a hollow sound to them after the central bank and national government conspired to demonetize the entire nation of over 1 billion people almost immediately. Dozens have died waiting in queues for ATMs that are either broken or are out of currency within a couple of hours, as Prime Minister Narendra Modi looks to one day create a “cashless society.”

    Hundreds of merchants throughout India have quickly adopted Bitcoin’s digital currency as an accepted mode of payment, given the problems with accepting legal cash, not the targeted “black money,” or any cash at all. The government has created a new national system of digital currency that includes biometric scans on smartphones, creating a natural competitor in Bitcoin.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Bitcoin Price Takes a Wild Ride After Closed door Meeting

    ​​​Maybe China no longer controls 95+% of the global Bitcoin trading market, but it is still a top factor in Bitcoin’s price. If something goes down in China, the rest of the community will get heartburn. Another meeting in China between Bitcoin exchanges and the PBOC caused a major Bitcoin tumble on Wednesday.

    According to Bloomberg, China’s central bank, the People’s Bank of China, had its regulators hold a major meeting with several Bitcoin exchanges in the country, which may lead to more controls in the weeks to come. What was discussed included issues of money laundering, according to one source?

    This caused quite an effect on the market value of Bitcoin, at leats for a few hours. As of this writing, the Bitcoin price started Wednesday trading at around $1075 USD or 7300 Yuan, and it lost over $40 is less than an hour early on Wednesday, or almost 4%. As of this writing, Bitcoin has regained almost all of that previous value lost.

    China’s central bank warned domestic bitcoin exchanges that they risk being shut down if they are found to be in violation of the rules on foreign exchange and money laundering. The exchanges called to meet with central bank officials included nine platfoms, among them were BtcTrade.com, HaoBTC, Yunbi, Yuanbao.com, and BTC100.

    The exchanges should not violate state regulations on anti-money laundering, foreign exchange management, payment and settlement and other financial laws,said an official statement from the PBOC’s operations office.” If a bitcoin exchange is found to be in violation of the above requirements, the circumstance will be serious.

    Bobby Lee, the founder of China’s BTCC Bitcoin exchange, has recently come out against the perception that Bitcoin is the primary engine of “capital flight” in China, and the main source of recent money laundering efforts. (He has also posted a more extensive rebuttal to these ideas in his Medium post earlier this month.)

    The talking point is that many Chinese people are now using Bitcoin as a means to transfer large amounts of their RMB abroad, into other foreign currencies,said Lee. Well, I’m here to tell you that from everything I’ve seen on the ground here, running one of the largest Bitcoin exchanges in China, this is simply not the case.

    And he had this tweet to convey on Wednesday, regarding the issues with the PBOC and their Bitcoin activity taking place:

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University