Update – it appears that we were right:
BTCChina Exchange is operating normally, and has not received any new directives from Chinese regulators. We'll keep you updated. #bitcoin
— BTCC (@YourBTCC) September 8, 2017
Note: this is how I understand the Chinese Bitcoin Exchange situation. Its my opinion only.
The bitcoin, ethereum and crypto markets all fell ~10% on a rumor that china was going to ban bitcoin exchanges. At this point it seems that through translation something was taken out of context. It looks like what China is looking to do is regulate bitcoin exchanges to prevent money laundering. There is a huge difference between “banning” and “regulating”.
Here is a link to the article that appears to have started the fire, as you can tell its a bit tough to understand just what they are saying:
This reads more like the government isnt allowing exchanges between Bitconi and or Renminbi.
That was picked up by articles like the one below – saying that Exchanges were going to be shut down.
Forex Live markets misleading headline read here.
Hold tight – don’t panic until its clear whats going on.