Read the full story here: https://news.bitcoin.com/beijing-deadli ... raw-funds/Beijing has ordered all affected bitcoin exchanges to post a notice of their closure by midnight on Friday. Now, the exchanges are urging customers to withdraw their funds as regulators have also set a deadline for them to come up with plans to allow withdrawals “in a risk-free manner.”
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Beijing Sets Deadlines for Bitcoin Exchanges – Customers to Withdraw Funds Quickly
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Re: Beijing Sets Deadlines for Bitcoin Exchanges – Customers to Withdraw Funds Quickly
Main question is - what will China do next? I think there are three options:
A) If they see BTC as a real threat to RMB, they might ban even more: disallow using Bitcoin, block nodes, try to kill network (less likely).
B) They keep everything as is right now (exchanges closed)
C) They draft up regulation which will allow only specific exchanges for exchanging BTC following very strict rules, possibly using their RMB PBOC crypto as main trading asset.
A) If they see BTC as a real threat to RMB, they might ban even more: disallow using Bitcoin, block nodes, try to kill network (less likely).
B) They keep everything as is right now (exchanges closed)
C) They draft up regulation which will allow only specific exchanges for exchanging BTC following very strict rules, possibly using their RMB PBOC crypto as main trading asset.
Whichever chain wins,the world wins 
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