China has ordered local authorities to shut down virtual exchanges trading digital currencies with the yuan - Legit Source
This is actually one of my first posts in Reddit but I've been seeing the confusion and since I lived in China for 8 years and my old assistant is there I WhatsApp'd her to ask her to find the truth. Don't know if I have enough Karma or days on my Reddit account to post this but here's a try to share this info.
Basically they are according to her shutting all exchanges, but didn't ban all transactions. Therefore people can still exchange privately.
Article is in both Chinese and English and very legit: http://ift.tt/2vLnWvO
Excerpts:
"“It means platforms facilitating trading between virtual currencies and legal tenders will not be allowed in China,” the source said. But the source added that the crackdown targets unauthorized trading at virtual currency exchanges, rather than Bitcoin and the underlying blockchain technology."
"The digital currency trading platform Guojiaowan said Friday afternoon that all digital coin trading on its platform has been suspended on the request of regulators."
"The order will affect major Bitcoin platforms such as OKCoin, Huobi and BTC China."
"The digital currency trading platform Guojiaowan said Friday afternoon that all digital coin trading on its platform has been suspended on the request of regulators."
"The regulatory move came after the central bank and other departments Monday imposed an immediate ban on fundraising using new blockchain-based currencies, also known as initial coin offerings (ICOs)"
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