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Just the matter of time,
all of the bitcoin still safe on the exchange site. But PBOC looks like give a permission for bitcoin to keep on the track. It won't impact the price of bitcoin. I think it will get the extend.
, but such moves negatively impact the sentiment about Bitcoin. If I am a Chinese crypto investor, this effectively tells me that if I want my money back
immediately, I should sell my bitcoins and withdraw CNY. I might listen to that.
You clearly don't understand how bitcoin works. Exchanges are THIRD PARTIES, like banks! If you put your coins there then you don't really control them anymore. No keys control, no bitcoins!
https://bitcointalk.org/index.php?topic=945881.0Mt.Gox, Mintpal, Cryptsy... you guys will never learn
Well, it all depends on the owner of the exchanges, though, and that's absolutely right that when you send your bitcoin to those exchanges mean you've lost control of your bitcoin. It's all happen suddenly and the only ways for those bitcoin holders whose funds froze in BTCC is to only wait or just take the other way to withdraw your bitcoin by exchanging to CNY which is definitely fine for vast majority of bitcoin users in china.