综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

USEUROPEAFRICAASIA 中文雙語Fran?ais
Opinion
Home / Opinion / From the Press

Goodbye, Bitcoin

People's Daily Online | Updated: 2017-09-18 13:45

Goodbye, Bitcoin

Trading volume on China's major Bitcoin exchanges has plunged in the past week, since authorities tightened regulation of the digital currency. [Photo/VCG]

Chinese Bitcoin exchanges including BTCChina and ViaBTC announced one after another to close all the transactions by the end of September, as ordered by a formal document released jointly by seven Chinese departments, involving the Central Bank, Cyberspace Administration of China, and Ministry of Industry and Information Technology. The news got wide attention from the market as the supervision and management of virtual currency is more restricted than ever.

Different from normal currency, Bitcoin is a digital virtual currency emerged after the financial crisis in 2008 that relies on certain computer algorithm. The total amount of Bitcoins is limited to 21 million and it can be exchanged to normal currencies of most countries and be used to buy virtual products in games.

After exchanges of Bitcoin started to operate, the trading price of Bitcoin soared. Due to the decentralization character of Bitcoin, it is hard to be effectively supervised or managed. In recent years, there were many problems related to exchanges of Bitcoins, such as market speculation, that have been creating financial bubbles and adding risks to the whole financial system. Some hackers stole Bitcoins by cracking down the locked algorithm. Moreover, the currency was used by criminals to launder money, sell drugs, smuggle, raise fund illegally.

Facing the chaotic situation of virtual currency, the Chinese government chose to act strongly and timely to control it. Regulators ordered exchanges to stop initial coin offering (ICO) on Sept 4, 2017, and has now gone further to instruct them to close their exchange platforms. In this case, Chinese regulation showed more strength than countries like Japan, Korea, and Singapore. Many media considered the actions as presentation of Chinese government’s determination and execution to prevent the risks brought by virtual currency and guarantee financial security.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
西乌珠穆沁旗| 习水县| 泗水县| 洛阳市| 肥乡县| 石台县| 关岭| 罗江县| 高碑店市| 乌兰县| 朝阳市| 宜黄县| 四子王旗| 中牟县| 柳州市| 龙里县| 永宁县| 张家界市| 酒泉市| 雷州市| 平凉市| 揭西县| 化隆| 扎赉特旗| 黎平县| 华阴市| 鸡泽县| 高安市| 沈丘县| 古丈县| 来宾市| 韩城市| 习水县| 砀山县| 双辽市| 元谋县| 广灵县| 兴和县| 漳浦县| 炎陵县| 织金县|