https://news.bitcoin.com/chinese-central-bank-requiring-extreme-customer-verifications-at-exchanges/I know we're talked about endless rumors and fake news of China "banning" bitcoin, but short of an absolute ban this sort of thing looks like a step in the direction we have long feared they would take. A big step.
The PBoC is apparently requiring every customer to
write out how they got their bitcoin, among other things, such as explaining why they are withdrawing whenever they want to convert to fiat. Very, very intrusive stuff. The question is, how will Chinese buyers respond? Is this just business as usual when dealing with their government, or is this the sort of thing that will dry up the Chinese market for bitcoin? Or something in between?
This is something that should not be new to everyone because whether they like it or not, they just wanted to frustrate bitcoin by all means but I am happy they are doing theirs on that end, something good news are happening on the other side in addition to that I guess every players in bitcoin are no longer taking the news from there serious as bitcoin is enjoying some relative stability in recent times.