Quote from: jl2012 on December 05, 2013, 08:56:13 AM

Quote from: Bitsurprise on December 05, 2013, 08:53:46 AM

Quote from: jl2012 on December 05, 2013, 08:49:11 AM

Quote from: Bitsurprise on December 05, 2013, 08:45:52 AM

Quote from: jl2012 on December 05, 2013, 08:44:05 AM

Quote from: Mylon on December 05, 2013, 08:41:48 AM

Quote from: TheChinaMan on December 05, 2013, 08:38:00 AM

Quote from: CaptainSS on December 05, 2013, 08:33:24 AM

http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131205153156832222251/20131205153156832222251_.html

Just a link I found about it...

Can you translate your findings for the rest of the group

Pulling it through google translate, it ain't great news.
- Business and Financial instruments banned from bitcoin

This is COMPLETELY wrong. It only targets financial institutions, i.e. banks, insurance companies, etc.

What remains then ?! Its banned and its not a currency .

People can still trade and spend bitcoin. Exchanges will be regulated, not banned. ONLY financial institutions can not touch it.

People can trade it so what , so Bitcoin is just a speculative instrument ? What happens to mass adoption ? What happens to China lead ? What happens to a world currency ?

It is only financial institution can't involve bitcoin. Other business like Starbucks can accept it

Who cares ? Starbucks can accept what ever they want its like a coupon , that being said i doubt big businesses in China will accept BTC after this news , we shall see ...

Bottom line it is not a currency and it will not be treated as one ( according to China ) .