Two months ago Chinese regulator issued the “Seven Regulatory Bodies” Announcement and shut down the Bitcoin trading. Everybody thought that bitcoin was closed for good. Some optimists were claiming that Chinese government might free Bitcoin trading under certain circumstances in the future, but nobody anticipated that the day is coming so soon.
On 8th of November a new cryptocurrency trading platform, ZB.com, started to accept CNY as a deposit. In other words, the CNY trading market which was closed by the regulators is now activated. The platform only accepts credit cards and debit cards for CNY deposit. WeChat Pay and Alipay are not accepted yet.
What comes next for China?
For the moment it’s too soon to say that Bitcoin trading is freed by the Chinese government, but it’s a high probability that the government, instead of banning Bitcoin and cryptocurrencies, is more interested in market regulation and trade supervising. One thing is sure, a new era of Bitcoin is coming in China where law and order might play a more significant role.
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