Chinese Bitcoin Exchange BTCC to Suspend “All Trading” on Sep 30

This is one of the big 3 exchanges. We have heard rumours the last while and where there is smoke there is fire. I wouldn't underestimate the Chinese government in any way. They currently have massive outflows of money from the country (much of it going into North American Real Estate, see Vancouver and Toronto bubbles).

Our contacts in China tell us that the government has been placing more and more controls and money that can be transferred out of the country. Apparently, a lot of those funds have been funnelled through crypto exchanges.

Now we sit back and see how resilient the bitcoin network really is. Many of the miners are also in China. How will this affect their activities? What about the Ethereum cryptos and their platforms? Is it possible to shut down all the exchanges and cryptocurrencies?

We wrote here about different ways government could shut these activities down, https://steemit.com/steemit/@thehutchreport/are-governments-ready-to-defeat-cryptocurrencies-here-are-10-ways-they-may

Stay tuned!