Quote from: CUNÉGONDE on September 18, 2017, 09:22:30 AM

just read a news before, your CEO said "China Is a Great Place for Financial Innovation", was china still great right now?

China WAS a great place for financial innovation.

But things have changed. In the past many government officials were pro-cryptos and pro-innovation. Some foul-players took that progressive attitude for granted and abused the system (see above). Too many risks were accumulated. Now officials at the very top of the government have decided to step in and take over. The regulations are likely to be much more strict in the foreseeable future. In some ways, the situation resembles what happened after the 2008 financial crisis.

In the long term, without these foul players and fraud-like schemes, things may not necessarily be bad for the crypto community in China.

However, it's important to stress that LakeBTC/LakeBanker will be only be minimally impacted by the restrictions in China:

LakeBTC is not a Chinese corporation. It has been registered in BVI since 2014.

The vast majority of LakeBTC's business comes from over 160 countries other than China.

LakeBTC's team, advisory board and corporate partners come from all over the world.

LakeBTC ceased CNY operations almost a year ago.

LakeBTC supports six languages: Chinese is not one of them and hasn't been since 2014.

Most or all of LakeBTC hardware resources have been physically located outside of China since 2013.

LakeBTC's market data has never been listed on any Chinese bitcoin data website.

LakeBTC never sponsored or attended offline events or meetups in China.