Category Archives: Bitcoin

China Bans Bitcoin Again -- Bitcoin the Movie -- Startup for Startups Raises 2,000 BTC
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China Bans Bitcoin Again -- Bitcoin the Movie -- Startup for Startups Raises 2,000 BTC - Video

The Bitcoin Group #27 - China Bans Bitcoin Again - Politics - Dark Market - Bitcoin VC
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The Bitcoin Group #27 - China Bans Bitcoin Again - Politics - Dark Market - Bitcoin VC - Video

Breaks Down Bitcoin - global economic crisis - max Keiser
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Breaks Down Bitcoin - global economic crisis - max Keiser - Video

Jaromil on Russia TV about Bitcoin
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Jaromil on Russia TV about Bitcoin - Video

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Bitcoin May v0.9.1 GitHub Source Code Development Visualization
Updated to May 2014. v0.9.1 Music: Imagine Dragons - Radioactive (Synchronice Remix) Recorded with "GOURCE" "FRAPS"

By: Thomas Lo

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Bitcoin May v0.9.1 GitHub Source Code Development Visualization - Video

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Win .33 Bitcoin ($150 or so, Depending on BTC value) - Meme game for May 1st - Take My Bitcoins - Video

BTC China's announcement adds to the growing uncertainty regarding regulation in China. Local media had reported that April 15 was a possible deadline set by the People's Bank of China (PBoC) for Chinese banks to freeze the accounts of bitcoin exchanges. Exchanges BTC Trade and Huobi.com both signaled earlier in the month that their banks had closed their accounts on, or close to, this deadline.

This speculation regarding regulation begun in early December 2013, after a price surge in bitcoin which many attributed to growing enthusiasm from Chinese investors. A statement released by the PBoC on December 5 warned of the risks associated with bitcoin, saying that Chinese financial institutions should not trade the digital currency.

Read MoreBitcoin stumbles on fears of China clampdown

Last month, a report by Chinese news site Caixin stated that the PBoC had introduced measures which would target 15 bitcoin-trading websites, adding that banks - who have these companies as clients - would be punished if they failed to close their accounts by the April deadline.

The PBoC moved quickly to deny these reports but these announcements by the exchanges would now appear to contradict that. What's more, BTC China's new announcement means that no exchange is immune to the clampdown with the company being the last exchange to be notified.

Lee iterated to CNBC that the only formal guideline on bitcoin by Chinese authorities was still the communication on December 5. "It has not shown any new guidance," he said, but added that he would take appropriate steps if it did issue an official statement but could not predict what the next step by the PBoC would be.

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Bitcoin price slips as China steps up regulation

BTC China's announcement adds to the growing uncertainty regarding regulation in China. Local media had reported that April 15 was a possible deadline set by the People's Bank of China (PBoC) for Chinese banks to freeze the accounts of bitcoin exchanges. Exchanges BTC Trade and Huobi.com both signaled earlier in the month that their banks had closed their accounts on, or close to, this deadline.

This speculation regarding regulation begun in early December 2013, after a price surge in bitcoin which many attributed to growing enthusiasm from Chinese investors. A statement released by the PBoC on December 5 warned of the risks associated with bitcoin, saying that Chinese financial institutions should not trade the digital currency.

Read MoreBitcoin stumbles on fears of China clampdown

Last month, a report by Chinese news site Caixin stated that the PBoC had introduced measures which would target 15 bitcoin-trading websites, adding that banks - who have these companies as clients - would be punished if they failed to close their accounts by the April deadline.

The PBoC moved quickly to deny these reports but these announcements by the exchanges would now appear to contradict that. What's more, BTC China's new announcement means that no exchange is immune to the clampdown with the company being the last exchange to be notified.

Lee iterated to CNBC that the only formal guideline on bitcoin by Chinese authorities was still the communication on December 5. "It has not shown any new guidance," he said, but added that he would take appropriate steps if it did issue an official statement but could not predict what the next step by the PBoC would be.

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Bitcoin price slips on China regulation

By Dow Jones Business News, April 28, 2014, 05:05:00 AM EDT

By Chao Deng

SHANGHAI--Chinese bitcoin exchange BTC China is no longer accepting customer deposits in yuan from one of the country's largest banks, China Merchants Bank Co.

The move by the exchange, which had been the largest bitcoin dealer in the world for a brief period last year, is the latest indication of the Chinese central bank's clampdown on trading of the virtual currency.

China Merchants Bank told BTC China to cancel accounts with it, according to a posting by the exchange on its official account with the microblogging site Sina Weibo on Monday.

Last week, China Merchants Bank said it would stop servicing bitcoin-related transactions--the first statement by a major Chinese bank to address bitcoin. The reason behind the move was to "protect public interests, safeguard the legal status of the yuan to prevent money laundering," according to the statement on the lender's website Friday.

The People's Bank of China issued a statement in December banning financial institutions in China from dealing with bitcoin. Since then, the central bank hasn't disclosed further details about its stance, but bitcoin exchanges here have begun to end deposits in yuan after what has been reported to be a behind-the-scenes order from the central bank for payment companies and banks to close bitcoin trading accounts.

Two small bitcoin exchanges, Shenzhen-based BTC 38 and Shanghai-based FX BTC, stopped customer deposits in yuan earlier this month.

Shanghai-based BTC China was resistant to making adjustments, saying it hadn't received any notice from the banks they work with until now. The exchange is continuing to accept yuan deposits from other banks, as well as continuing to accept deposits in bitcoin, according to firm spokesman Kenneth Ling.

The price of one bitcoin was at $422.66 Monday afternoon, down roughly 15% from before China Merchants Bank issued its statement Friday.

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Bitcoin Exchange BTC China Cuts Ties With China Merchants Bank