bitcoin – Web Wednesday V83 – 116 bitcoin at Web Wednesday HK – 19th March 2014
83rd social mixer event – networking for the Hong Kong’s internet entrepreneurs and digital media executives.
An interview with two crypto-currency entrepreneurs:
Dave Shin, Founder of Cryptomex, an ambitious alternative for raising company funds via IPOs (initial public offerings) traded in Bitcoins.
Ken Lo, CEO of Anxbtc bitcoin Exchange, a new marketplace for trading Bitcoins, recently launched in Hong Kong.
More on our blog: bit.ly/wwbv83blog
Photos by bronney.com/ By YB Hong Kong on 2014-03-19 20:53:24 [wpr5_ebay kw=”bitcoin” num=”1″ ebcat=”” cid=”5338043562″ lang=”en-US” country=”0″ sort=”bestmatch”]
zerohedge.com / by Tyler Durden / Mar 21, 2017 10:13 AM
Just ten days after the US Attorney for New York, Preet Bharara was fired by Donald Trump, prompting speculation if he was working on a probe of Trump himself when he was terminated and further speculation which employer would imminently retain Bharara’s services, moments ago the former attorney gave the answer: he is joining the NYU School of Law.
Chinese bitcoin exchanges are gearing up to resume cryptocurrency withdrawals following the implementation of a video verification procedure.
Know-Your Customer via Video
Following the in which Chinese exchanges detailed the information required from clients in order to process their withdrawals, users are now receiving emails announcing video identity verification in accordance with the latest KYC/AML procedures imposed by the People’s Bank of China (PoBC).
The reads:
In accordance to KYC / AML regulations and account monitoring procedures Huobi is subject to, we will initiate video verification at 17:00 Mar 28th (GMT +8), please cooperate to complete video verification as requested then, or it may affect your withdrawals.
Namely, two of the so-called “Big Three” exchanges Huobi and OKCoin have started implementing video verification.
Following Huobi, OKC has also started video verification.
Recently, the PBoC proposed a draft that exchanges in the country considered acceptable except for one: on-site verification prior to opening an account, a practice that is common to traditional banks but not to bitcoin exchanges.
However, the latest move by the exchanges suggests that on-site verifications will not be implemented, at least for the time being. It also means that if the PBoC and exchanges have finally reached an agreement on AML (Anti-Money Laundering) procedures, cryptocurrency withdrawals should resume very soon.
The return of cryptocurrency withdrawals should help exchanges regain some of the customers that have been flocking towards in recent months. However, with the removal of margin trading and , it’s unlikely that the Chinese market will regain its 90%+ share of the global bitcoin trading market.
Exchange operators will require users to provide their personal information along with explanations of the sources of the funds to be withdrawn and their intended withdrawal destinations.
Now, with the addition of video confirmation, China has become one of the most countries for bitcoin exchanges.
While some traders may feel drawn to the clarity these regulations provide, others may choose to stick with p2p alternatives like and who offer greater privacy and which have experienced record trading volumes since the PBoC clampdown.
In the long-run, the regulations imposed on exchanges may make for a healthier, more decentralized bitcoin market and help boost bitcoin’s overall reputation within the country.
Furthermore, the introduction of clear rules and guidelines may make way for alternative cryptocurrencies to be added on these exchanges that have, so far, only dealt with bitcoin and Litecoin.
Do you think "big three" will list new altcoins after withdraws are resumed? (Now they only have btc and ltc)
Can Chinese exchanges recover from the blow dealt by the PBoC and return to their old selves? Will they add new cryptocurrencies? Let us know what you think in the comment section.
Microsoft Azure and Waves Partner, Adding Smart Contract Features Waves has announced the beginning of a partnership with Microsoft Azure, paving the way for developers to be able to create smart contracts on both private […]
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