China Will Likely Resume Cryptocurrency Trading by Licensing Bitcoin Exchanges

"The Chinese government will likely resume cryptocurrency trading in the upcoming months with necessary Know Your Customer (KYC) and Anti-Money Laundering (AML) systems in place.

Earlier this week, Xinhua, the state-owned news publication of China, revealed that the Chinese government is concerned with criminal activities surrounding cryptocurrencies such as bitcoin. It emphasized that cryptocurrencies have become the “top choice” for underground economies and revealed that the government will take appropriate measures to regulate the market by implementing a licensing program and strict AML systems."

Full article:
https://www.cryptocoinsnews.com/china-will-likely-resume-cryptocurrency-trading-by-licensing-bitcoin-exchanges/

I think that makes a lot of sense. The best option that the Chinese government has right now is to regulate the crypto currencies. By establishing blockages and prohibitive measures, the only thing they will achieve will be for people to buy their currencies in the OTC markets.

By regulating it and allowing transactions with cryptocurrencies, they can have greater control of operations due to KYC and AML.

I think this would have a positive impact on the price of Bitcoin and its could possibly have a significant increase by the time this is confirmed.

What do you think? too good to be true?