Bitcoin, Crypto currency, Blockchain

Bitcoin: trading volume of the Yuan at a record low

50bae3a2377db2beafcbeb3742a8db7e - Bitcoin: trading volume of the Yuan at a record low


The global trade volume of Chinese investors in the world has dropped to one percent. Before the regulation in the autumn of last year, the share of the Yuan was still more than 90 percent. In 2014, it was still 70 percent. The statistics come from Beijing’s Central Bank, People’s Bank of China (PBoC).

As the daily newspaper “Global Times” reported, fell to the share of Chinese traders, according to the Beijing Central Bank to a record low of only one percent. According to the Xinhua news Agency have been closed since September of last year, in the framework of the state regulation in China 88 Online trading courses and 85 of the Initial Coin Offerings (ICOs). Since the autumn of 2017, the trade in crypto-currencies and ICOs in China is prohibited without exception.

The head of the research Department of the Online financial Institute in Zhongguancun is satisfied with the development. The Numbers would suggest that the strategy of the Central Bank is so successful, Guo Dahzi. You’ve been expecting in advance that the Bitcoin trading volume of the Yuan after the announcement of the prohibition of Trade would fall. State Agencies report that they have prevented the ban is successful, investors lose with dubious Investments your money. You are only allowed Bitcoin Mining in the sector, China is still at the top.

The Central Bank does not want to repeal prohibition

The report of the Beijing Central Bank also says that long-term lifting of the ban is planned. The share of the Yuan in trading with crypto-currencies is not expected to go so soon. The price of Bitcoin has taken place since the ban on a veritable roller-coaster ride. Due to the risks, which were connected in the view of the regulators with the trading with crypto-currencies, will not lift the People’s Bank of China (PBoC), the ban on so quickly.

Network lock by reset prohibition

To the activities of the own citizens better control, have been blocked for a variety of Online trading courses and providers for ICOs for all Chinese Internet users. Of the new network of the PBoC lock, a total of around 110 web pages will be affected. Including well-known providers such as Huobi or Binance. This took Chinese investors in the past frequently. Alone during the payment provider Alipay, the Alibaba group, the castle of 3,000 Accounts, because you swapped it demonstrably Yuan in various crypto-currencies. The state of closure of the account concerned but also other financial service providers. However, the activities go even further: a number of providers to be blocked for several months, for different clients.

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