Is Bitcoin Under Threat in China?
1,686 views · Published 9 February 2017 · 3:24 · Indexed 4 November 2026
Channel: The 2% Brief · 2017 · People & Blogs
http://illuminatisilver.com http://facebook.com/illuminatisilver Is Bitcoin Under Threat in China? Today is Thursday 9th February 2017 and we are briefly reporting on a Reuters report out today concerning bitcoin. China's Central Bank - The People's Bank of China (PBOC) said in a statement on its website that last week it met with nine of the country's smaller bitcoin exchanges to discuss risks and problems in the bitcoin market, and warned them that they risk closure should they seriously violate the country's regulations. It claimed that it was particularly concerned about margin lending and money laundering activities. Beijing has ramped up efforts to stem capital outflows and relieve pressure on its currency, the Yuan. While the Yuan weakened 6.6% against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs, trading at 7,545 Yuan, equivalent to around $1,099. The relative anonymity the digital currency affords, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the Yuan and skirt around rules limiting how much foreign exchange individuals can buy each year. The PBOC's increased scrutiny of the industry since the start of the year has led the three largest exchanges to introduce trading fees and stop margin lending. Is this just a warning or a first step towards banning Bitcoin and or other crypto currencies? What do you think? We would like to hear your views. Please view our latest videos: LBMA Forecasts Higher Gold and Silver prices in 2017 https://youtu.be/ztZwYgeOL9I Illuminati Silver’s Inner Sanctum Update https://youtu.be/NbsaCQd_vI8 WGC 2016 Report Shows gold demand up by 2% and prices up by 8% https://youtu.be/DTdtCFgQXIE Gold and Silver Update – w/e 3rd February 2017 https://youtu.be/4kwF7S_2QS4 Why are Gold and Silver prices rising? https://youtu.be/dgTb421JG8U Gold and Silver Update – w/e 27th January 2017 https://youtu.be/uYjXLrNNFp0 Gold and Silver Update – w/e 20th January 2017 https://youtu.be/lQ8fThdXcNw Inauguration Message to President Trump https://youtu.be/vdqLJYyC4CU Trade War with China is Possible but US likely to win https://youtu.be/Q9AO4eSbrbo Gold and Silver Prices during Inauguration Week https://youtu.be/hAmpWxVuImg Investment Schizophrenia during a Trump Presidency. https://youtu.be/4r2dHCU6f-g US Mint announces new Mixed Race Liberty Gold Coin https://youtu.be/2IW_XXopNfE Gold and Silver Update – w/e 13th January 2017 https://youtu.be/lWrc8Nzrk0g Is the World Economy Recovering or Faltering? https://youtu.be/4rwJXtaOXQA The Liquid element of a precious metal portfolio – by cabadjo. https://youtu.be/LZVEV7rJMuc Zero Hedge Headline debunked for Exaggeration or Scaremongering. https://youtu.be/KtOst5V0QH4 China’s Finance Ministry expects 6.7% growth for 2016 https://youtu.be/mdhjfjXkXWA Gold and Silver Update - 6th January 2017 https://youtu.be/7Bryoj9lLkw Jobs Figures Disappoint but still suggests lower gold and silver prices ahead https://youtu.be/7wiPEmzRSGU First Silver Unboxing of 2017 - Illuminati Silver https://youtu.be/QLiXw2UQPzI
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