Re: Breaking news: Baidu (NASDAQ:BIDU) accepts BITCOIN!
They're gonna get their teeth kicked in.
http://blogs.wsj.com/chinarealtime/2009/06/29/china-cracks-down-on-virtual-currency-for-real/
How are they gonna get rid of those coins they take in without breaking the "You can't buy real things with virtual currency" laws?
http://blogs.wsj.com/chinarealtime/2009/06/29/china-cracks-down-on-virtual-currency-for-real/
How are they gonna get rid of those coins they take in without breaking the "You can't buy real things with virtual currency" laws?
Perhaps China don't consider Bitcoin a virtual currency.
From the same article:
"But no more. According to new regulations released jointly by the Ministry of Commerce and the Ministry of Culture last week, virtual currency should be exchanged only for virtual goods and services provided by the issuer of the currency."
Luckily in Bitcoin everyone is an issuer, so everyone can accept them.
I think Bitcoin isn't consired with this new regulations. The Chinese government seems very pro-Bitcoin.