Starting on October 1st, the Chinese government will begin to regulate cryptocurrencies . For the first time in crypto history this is actually happening! The General Principles of Civil law states that the so called virtual currencies will be addressed as "Virtual Assets". Although stating that it was never mentioned that the currency was frowned upon or against, it was obvious that something had to be down when smaller platforms were not taking the anti-money laundering actions seriously. As of now the expunged ICO movement and the elimination of all exchanges running in China are temporary until further investigation ( the only exchanges available until the end of the month are OKcoin and Huobi). I am pretty unfamiliar with both of these exchanges, im assuming they both have high volumes coming in. To possibly satify the people maybe these are open for further dumping of coins to prevent communicable problems from occurring. I'm wondering if after the regulation is rolled over that these will two will be the only ones functionally making exchanges in the nation. What a riot! Sources:bitcoin.com (Samuel Haig)
