Quote from: cosmofly on April 01, 2014, 09:19:33 PM

Quote from: Bit_Happy on April 01, 2014, 09:14:00 PM

Quote from: rocks on April 01, 2014, 09:02:08 PM

From the article:

"One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China, and said the move is to "enforce what was already said in the December document." That document had said bitcoin is not a currency with "real meaning" and does not have the same legal status as a currency, but that the public is free to buy and sell bitcoin online provided that they accept the risk."

Bitcoin is not banned in China. China is now enforcing rules they put in place that say banks and similar institutions can not offer bitcoin accounts or transact in bitcoin.

The same rules apply for gold. Chinese banks can not open 'gold' accounts in the same manner as yen. Gold is a commodity and operates through that infrastructure. China is doing the same for bitcoin.

If you think bitcoin is "banned" in China, then you also would have to believe that gold is banned in China, which is absurd...

Edit: Impulse beat me to the exact same quote. That's two people that saw this right away, wonder why the OP didn't

wonder why the OP didn't...
Perhaps OP is trying to deceive people?

"
OKCoin CEO Xu Mingxing said that if Chinese exchanges can't accept money into corporate accounts, they would likely have to incorporate themselves abroad and also move their servers overseas. "

No banks allowed to deal with exchanges = pretty much a fucking ban

Why else would okcoin CEO want to move overseas

Not really, I think China just doesn't want their banks anywhere near these crypto exchanges because if the exchanges go rogue like Mt. Gox, there's just too much drama and paperwork. Until the crypto exchanges have demonstrated sufficient maturity, I doubt any bank anywhere would want to work with them. http://www.law360.com/classaction/articles/522182/japanese-bank-denies-aiding-alleged-mt-gox-fraud

The Chinese are free to trade cryptos as they see fit, however, they will be limited by the I think US$50000 yearly limit their government allows them to remit to overseas exchanges/banks. If they have more than US$50000 per year they want to remit, I'm sure they've already got mechanisms in place to do so.