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in Share With Other Members Mon Jul 01, 2019 12:21 am
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THE People’s Bank of China warned yesterday that it will close Bitcoin exchanges which breach rules on money laundering and foreign exchange.


The PBOC met with executives from nine Bitcoin exchanges Wholesale Ryan Nugent-Hopkins Jersey , including Huobi, OkCoin, BTCC and HaoBTC, in Beijing on Wednesday and ordered them to operate according to the law.


“Trading platforms should not participate in unauthorized financing business, money laundering, or violate regulations on foreign exchange Wholesale Oscar Klefbom Jersey , tax and business,” the PBOC said in a statement on its official website. Platforms that breach the rules will be investigated and shut down, it warned.


In response, OkCoin and Huobi said they’ve halted Bitcoin trading and it will not resume until completing an system upgrade to prevent money laundering.


Huobi also said it will “block accounts that are suspected of illegal practices.”


HaoBTC said a trading curb will start from 2pm today limiting investors to trade no more than 5 Bitcoin within 48 hours. It will also raise the trading fee to 0.4 percent per transaction from 0.2 percent.


“Investors should always remember that Bitcoin lost more than 75 percent of its value in 2013,” said Zhang Yufang, an investment adviser with Shanghai Shangding Investment Consultancy. “We do not recommend it as a long-term investment tool Wholesale Kailer Yamamoto Jersey , particularly because of compliance concerns.”


The price of the virtual currency was little changed around 7,500 yuan (US$1,093) after the PBOC statement was released, according to the CoinDesk’s Bitcoin price index.


The price rebounded from a low of 5,555 yuan in January after the central bank launched checks into BTCC, Huobi and OkCoin as the soaring Bitcoin prices stoked jitters that the exchanges may have been used as a channel to move capital offshore.


Market insiders from HaoBTC said the Bitcoin price rebound during the weeklong Chinese New Year holiday was mainly powered by speculators who flocked to the Bitcoin market in a bid to gain from the virtual currency’s fast rise.

Promotional material for Assassin's Creed Photo: Courtesy of Yingxing Tianxia Michael Fassbender (left) attends a press conference in Beijing on Monday. Photo: Courtesy of Yingxing Tianxia

Assassin's Creed Wholesale Alex Chiasson Jersey , the action adventure adapted from popular video game franchise of the same name, is pinning its last hopes on China, the world's second largest film market and one that especially favors Hollywood action blockbusters. In late 2016, the film seriously underperformed when it was released in North America and other countries and regions outside of China during the Christmas season. The film only pulled in $54.53 million in the US and $157.9 million internationally, far below what it needs to break even on its $125 million budget plus marketing costs.


With the film expected to release on Friday in the Chinese mainland, the producers behind Assassin's Creed held a press conference in Beijing on Monday. The film's lead actor and producer Michael Fassbender made an appearance to help increase hype among Chinese video game fans and filmgoers.


Another 'Warcraft'?


Despite the poor reviews overseas (3.910 on review aggregate Rotten Tomatoes) Wholesale Cam Talbot Jersey , the anticipation among audiences in China for Assassin's Creed is high. The film currently has high anticipation ratings on several popular Chinese websites - 7.110 on Mtime, 7.310 on Maoyan and 7.510 on Sina Weibo.


"I have been looking forward to it for a long time," Elena, 27, told the Global Times, adding that even though she was aware of the negative reviews from overseas "as a fan of the Assassin's Creed games Wholesale Kyle Brodziak Jersey , I will watch it no matter what."


Support from fans is what many of today's video game and comic book inspired films count on. Even when a film is received poorly among general filmgoers, fans are often willing to pay for tickets just to see their favorite characters come to life on the big screen.


Warcraft (2016) is the perfect example. With an average rating of 4.210 on Rotten Tomatoes, the film made only $47.37 million in the US. Yet, overseas it brought in $386.31 million, of which the Chinese mainland, where the video game Warcraft is hugely popular Wholesale Milan Lucic Jersey , contributed $213.98 million - more than 55 percent of the total of overseas earnings.


The fan power of Chinese video game players astonished the world, and therein lies the hope for the Assassin's Creed film, which failed in its home market but whose video games also have a large fanbase in China.


Developed by Ubisoft since 2007, the Assassin's Creed video game series has now run for a decade. Although there is no official information on how many players in China the game series has attracted so far, according to a 2014 report on games.sina, EEDAR Wholesale Darnell Nurse Jersey , a video game industry research firm, reported that the number of Chinese video players amounted to 517 million in 2014, far more than the entire population of the US that year.

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