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?
PBOC just wants to stop its country's wealth being transformed via bitcoins to abroad.For that reason,they are asking customer verification at bitcoin exchanges.Let them do whatever they want.