The cryptocurrency market suffers from the uncertainty of Chinese exchange houses

The cryptocurrency Market Suffers from the uncertainty of Chinese exchange houses

Criptodivisas the market remains under immense pressure in the weekly start, given the uncertainty created by the probable ban on trade with these virtual assets in China . China has not issued any official communication, for the moment, although reports of prestigious publications as the magazine Caixin ‘point in this direction, after the monetary authorities have already taken action against ICOS.

Exchange houses the Asian giant are waiting for the central bank ruling, after the information published by this means would cause drops more than 6.5% in the price of criptodivisa last Friday. As reported by Reuters , two of the largest operators online, OkCoin and Huobi, coins have received no official response from the PBOC.

At the moment, the price of Bitcoin remains around $ 4,100 , but during the weekend, the digital currency has momentarily lost the barrier of $ 4,000. Ether, the second currency in market capitalization , is below 300 dollars. In cumulative terms, the more than 850 existing digital currencies, totaling 144,500 million , a figure far from the historical mark above the 180,000 million dollars in just 10 days ago.

Correction September

September tore market for criptodivisas with a sharp correction after the rally August , during which digital assets swept all planned targets, to achieve a historic milestone after another. Just after the Bitcoin exceed the barrier of $ 5,000, the prohibition that the Chinese Government has made the initial coin offerings (ICOS) has caused a crash  in this market slumps in cumulative terms, 19%.

But the bad news does not end there. The collapse of September 4, the largest of the ‘crypts’ from the pasaro July 15, could lead to a much deeper setback if the Asian giant delivers on the promise of yet more regulations apply to online trading with currencies. Reports the average Yicai , and collects CNBC , the decision to ban the issuance of tokens cirptográficos in exchange for funding for emerging projects in technology blockchain , is just the tip of the iceberg of a new set of standards for virtual currency.

Interest in ICOs shown by investors worldwide to finance the development of new startups and projects of all kinds suffered a setback on September 4, after the Central Bank of China, after investigation, it has announced that penalize strictly the sale of imaginary coins and pursue irregularities in operations already completed. In addition, whoever sold this type of criptomonedas the public must return the funds. Thus sharing platforms can not change coins from ICOs and banks may participate in them either because the authorities believe that these “have seriously disrupted economic and financial order.”

This is a drastic measure against the boom  of these operations had captured 1,600 million in the last year. Its operation consists of the acquisition of tokens  or currencies created by a company rather than stock it. Technology – based blockchain , have become a quick way to raise large sums of money with little or no regulatory oversight.

As noted by Reuters , the central banks fear the expansion of these decentralized digital currency , because they threaten the end of monopololio they exert on the issue of money. In fact, the supervisor US SEC has also warned about the risk of these operations, although not yet prohibited.

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