Bitcoin Regulations - An essential conference in China, i.e. the 19th National Congress of the Communist Party of China ended on October 24, 2017. With the closing of the meeting, some temporary laws, as well as policies, have been canceled. Among the policies, the prohibition on Bitcoin trading in China might be one of them.
On October 28, ZB.com that is a new virtual currency trading platform declared that all trading activity would be available from November 1. Users may also sign up for accounts as well as deposits from now on.
The platform states that people throughout the world can exchange as well as trade on the platform. The languages of the website are taken as English and Chinese. Though, it is very soon to say that the regulation of Bitcoin and other digital currencies is invalid. There is a possibility for the platform to be shuttered by the government early. Nonetheless, there are also many people stating that the Chinese government is running the platform.
Offline trades started to become famous after the announcement of the regulation
For now, no one knows precisely what is about to happen after November 1. It will be taken as a welcoming news if Chinese Bitcoin traders may run more conveniently. Since the prohibition on Bitcoin trading in China, people have initiated to trade Bitcoin via Taobao that is the Chinese version of eBay and belongs to Wechat chatting group, QQ chatting group, and Alibaba Group. Offline trades have also become famous among Chinese Bitcoin traders.