Amazon Prime lead will spend time with Whole Foods team
US Market Indexes Lower Wednesday
Oil drops as market rout resumes, North Sea pipeline increases operations
Dow plunges 1000 as market swoons again
Dow Jones nosedives more than 1000 points as market reversal grows
Has Winter come to Bitcoin with exchange closures in China ?
16 September 2017, 12:28 | Virginia Santiago
Bitcoin skepticism: McAfee vs. Dimon
The move comes after Chinese regulators banned fundraising through Initial Coin Offerings (ICO) on September 4th citing concerns over financial fraud and speculation.
News of an imminent halt in local trading at Huobi and OKCoin exchanges broke in the official China Securities Journal earlier today (link in Chinese). And leaked documents suggest that the rest will be required to do so before the end of the month.
"Please make sure to withdraw all your assets including CNY and cryptocurrency before September 30th, after which ViaBTC website www.viabtc.com will be officially closed in Mainland China".
China operates very strict controls on money flowing out of the country.
"Blockchain technology, which was initially used for BitCoin transactions, also has the potential to create a major disruption in the financial landscape".
It's an open question whether the digital currency has found a bottom or the correction has further to run as the ramifications of the exchange closures sink in. "They can become a tool for illegal fund flows and investment deals".
BTCC, one of the largest Bitcoin exchanges in China has announced that it will cease trading in light of the government's tightening regulation. The central bank has announced that Chinese companies will no longer be allowed to issue units of electronic currency to lift funds.
Fournette, Bortles lead Jaguars past Texans
And lining up with Watt for the Houston Texans to rush quarterback Blake Bortles are Jadeveon Clowney and Whitney Mercilus. I have had high hopes for the Jags coming into the last couple of seasons, only to have it blow up in my face in week one.
What's more, Chinese bitcoin markets account for approximately 98 percent of total bitcoin trading volume worldwide.
Thursday's news caused the price of the digital currency to fall by $644, or 16.6 percent, to $3,230, according to CoinDesk.
China isn't alone in sounding the alarm about bitcoin.
Following the failure of a bitcoin exchange in Japan called Mt. Gox, that country has enacted new laws to regulate bitcoins and other cryptocurrencies. They also exercise significant power over changes to the Bitcoin protocol. Although there's a terrific arbitrage opportunity, removing bitcoin from a Chinese exchange would prove hard at this stage. Investors have poured more than a billion dollars into cryptocurrency startups since then. Users must present identification (e.g., a passport) and proof of residence in order to process their transactions.
Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH.
Bills beat Jets 21-12, lead the AFC East through Week 1
The Jets went into today's season opener at Buffalo hopeful that they could get the 2017 season off to a flying start. Five of his first eight completions were on plays over the middle. "We're not going to hang our heads, " Bowles said.
Jonah Goldberg: Desperate for a win, Trump shafts his party
You nearly get the idea that the entire GOP economic philosophy is dependent on a never-ending stream of tax cuts for the rich. House Minority Leader Nancy Pelosi pointed to Trump's overall approval rating nationally, which has dipped below 40 per cent.
Sooners do nice job of disguising weapons for Ohio State
Mayfield finished a distant third , although both he and his top receiver, Dede Westbrook, were invited to NY as finalists. Ohio State hosts Oklahoma in a game that pairs teams ranked second and fifth in this week's Associated Press poll.
Eagles vs Redskins Scores and Updates
Included in that stat were a number of third and long conversions, a particular bugaboo that carried over from a year ago . Wentz got the offense out of at least as much trouble, enough times to bring back memories of past Eagles escape artists.
Rafael Nadal beats Kevin Anderson to win the US Open final
Only Nadal , Pete Sampras and Ken Rosewall have managed the feat of winning Grand Slam titles in their teens, 20s and 30s. Volleying requires the most athletic talent of any shot in tennis , and Nadal won all 16 points at net against Anderson .
NFL Preview Seahawks At Packers: New Additions
Green Bay's defense had an even better debut, especially considering how maligned the Packers were against the pass last season. Prosise gained 4 yards to move the chains, Carroll called a timeout with 30 seconds left - and it worked.
This is the destruction Irma left behind in Florida
CNN meteorologist Judson Jones said the severity of the storm surge depended on which side of the storm Tampa was on. Hurricane Irma weakened from a Category 5 and hit the Keys on Sunday as a Category 4 storm.