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Chinese Finance Association Cautions on Overseas Cryptocurrency Trading, ICOs

China’s internet finance association is warning citizens against participating in overseas cryptocurrency trading and initial coin offering (ICO) investments. The National Internet Finance Association of China (NIFA), a major self-regulated internet finance guild has issued a new public notice urging investors to be wary of risks involved in cryptocurrency trading on overseas platforms. Chinese...

China Bitcoin Crackdown: Internet Finance Authority Seeks Regulatory Framework

Bitcoin China

As Beijing’s crackdown on bitcoin exchanges, a senior executive at China’s internet finance association has called for a regulatory framework for virtual currencies. Li Lihui, a senior official at China’s National Internet Finance Association (NIFA) and a former president of the Bank of China has called for a stringent regulatory framework for digital currencies in China, according to Reuters...

China Bitcoin Exchange Ban 'Certain'; BTCC to Suspend Trading; Shanghai Issues Verbal Shutdown Order: Reports

China Bitcoin Ban

Chinese regulators have reportedly stated that a bitcoin exchange ban is "certain". Meanwhile, Shanghai has issued a verbal shutdown order to bitcoin exchanges based in the city, and BTCC has announced it will suspend trading by the end of September. This morning, Zero One Finance--a member of the China Internet Finance Association (NIFA)--published a newsletter stating the Chinese regulators had...

$30 Billion: Ethereum, Bitcoin Prices Sink as Market Slump Continues

Both the ethereum price and bitcoin price fell to monthly lows on Wednesday, headlining a market slump that has now reached $30 billion. The Rumor Mill Gets a Quasi-Official Addition Rumors and speculation that the People's Bank of China (PBoC) is preparing to outlaw bitcoin exchanges grew more serious on Wednesday, as a self-regulatory agency established by the bank issued a statement warning...

Chinese Agency: Bitcoin Exchanges Lack ‘Legal’ Basis; Ban to Follow?

China Segwit2X Bitcoin

The National Internet Finance Association of China (NIFA) has issued a statement condemning bitcoin and other cryptocurrencies as a tool for illegal activities. Claiming that Chinese bitcoin exchanges have no legal foundation to operate within the country, the agency warns its members against operating or using cryptocurrency exchanges. NIFA: Bitcoin Exchanges Lack 'Legal' Basis The self...

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