Indonesia is the financial institutions engaged in bitcoin payment business

Indonesia is the financial institutions engaged in bitcoin payment business


Indonesia’s central bank and the Ministry of Finance issued several risk warning that bitcoin lacks the legal management, the underlying asset, reference price and other financial security elements, not only can be reduced to money laundering and terrorist financing tools, and is accelerating the formation of financial bubbles, and the interference of stable operation of financial system, and ultimately threaten the masses the vital interests

“Virtual currency transactions spawned more arbitrage opportunities and improper financial operation, but the operation is free from the scope of legal supervision.” This is the central bank governor Agus for Indonesia bitcoin users to the latest advice.

Since last December, Indonesia, Indonesia’s central bank financial services department, Indonesia Ministry of Finance and other financial regulators prohibited firing announcement, the domestic financial institutions engaged in bitcoin payment business, urged the Indonesian citizens not to hold, bitcoin trading and investment.

Different from the traditional currency, bitcoin is a data encryption technology based on block chain. Since last year, the global scope of crypto currency prices continued to rise, especially in December last year, the first bitcoin futures trading products in the United States officially spawned a worldwide digital encryption currency investment boom. This makes bitcoin become the new darling of investors, has become a new type of financial risks in the hardest hit. To this end, the national financial regulatory agencies are stepping up research on how to deal with the new risk bitcoin encryption currency. For example, South Korea and India have banned domestic bitcoin transactions, the United States and Japan said to strengthen the supervision of bitcoin. Previously, supervision of bitcoin is loose in Germany, the finance minister Maier Duarte recently will with the French finance minister Lemerre said, will jointly promote the global supervision of bitcoin in the group of twenty summit in Argentina in 2018. This also led to bitcoin prices fell. In February 2nd, bitcoin price fell to $8378 last year, and had reached the highest $19511.

Indonesia’s central bank data show that the rupiah denominated bitcoin prices last year soared more than 20 times, far higher than the average level of international market rose 17 times. Therefore, the central bank and the Ministry of Finance issued several risk warning that bitcoin lacks the legal management, the underlying asset, reference price and other financial security elements, not only can be reduced to money laundering and terrorist financing tools, and is accelerating the formation of financial bubbles, and the interference of stable operation of the financial system, and ultimately threaten the the vital interests of the people. Oni think the person in charge of the central bank payment system policy, bitcoin can not reach the international standard in the elimination of financial risk, the transaction and the loss also does not provide any legal protection. According to the central bank report, found in a mall in Jakarta bomb attacks, the terrorists have to store management for bitcoin.

Therefore, as the country’s payment system regulators, Indonesia’s central bank has prohibited all aspects of clearing, settlement, issuance, transfer and other payment system operators to hold and use bitcoin, non financial technology development departments to carry out bitcoin payment related research. Indonesia’s central bank financial risk management department director Ernie said, on 2011 Indonesia as the only legal tender laws, as well as the central bank on 2015 2016, the Indonesian rupiah citizens to use obligations prohibiting banks and non bank financial institutions hold a virtual currency, in 2017 about the provisions of the three consumer protection network trading platform is the basis of law enforcement behavior, Indonesia regulators at present. The director of the Indonesian Financial Services Administration Wim Bo warned, including banking, financial services, electronic wallet service providers, financial technology companies, to provide convenience for any payment system operators for bitcoin transactions, once discovered will face fines or even revoke the business license of the heavy penalties. In 2017, the Indonesian government in the name of illegal financing closed 4 bitcoin payment business of private equity funds.

However, due to the national level lack of legal support, Indonesia’s financial regulators is the right to prohibit bitcoin in Indonesia private point-to-point distribution, independent of citizens holding, trading and investment bitcoin, can only stay in the current level. Bitcoin (Indonesia) as Indonesia’s largest bitcoin trading platform, has more than 1 million active users. In the face of Indonesia’s financial regulators warned that the company only on its website for the majority of users published the latest tips bitcoin transaction risk as a response. In this regard, the Indonesian finance minister Sri Mulyani argued that although the government has the right to prohibit citizens to invest in bitcoin, but not for any trading loss fallback. Wim Bo said that regulators can only continue to guide the public to recognize the potential risks, “we can only again and again issued a risk warning”.

Relative to the financial regulatory authorities “persuasive”, the Indonesian police simply “hard”. In January 15th, Bali Island police according to the clues in the Bali Island branch of the central bank, major tourist attractions to carry out special rectification activities for bitcoin transactions. The action that there are at least two cafes are still accepting bitcoin payments, payment of the minimum threshold is 0.001 coins ($18), a bitcoin transaction records of 44 enterprises including car rental, hotels, travel agencies, jewelry stores found before. Bali Island police chief SA Wu just pointed out that according to the law, all financial transactions must be used in the Indonesian rupiah, “but the tourist resort of Bali Island has been all kinds of illegal financial transactions in the target area, the police has been committed to the fight against all illegal non IDR transactions, so we urged businesses to consciously resist the bitcoin, and will be based on the National Police Administration of criminal investigation department and the central bank institutions new coordination, intensify the crackdown”.

The European central bank executives: the EU must consider the regulatory bitcoin

The European central bank executives: the EU must consider the regulatory bitcoin


According to foreign media reports, the European Central Bank’s rate setters Ewald Novotny (EwaldNowotny) said on Monday that the EU must consider the supervision of bitcoin, to prevent money laundering and crash risk.

At present, the digital currency price is $1000 from the beginning of this year rose to $more than 16000, in the United States on Sunday after the launch of its futures rose more than 20% to $18700.

The sharp rise of the price of the real value of bitcoin caused many people questioned, and worry about the possibility of a bubble. But central bankers worry that, if it has not been subject to regulatory market crash, they will be blamed.

“Just because the bitcoin market scale, it is necessary for us to discuss whether to carry on the supervision and regulation of the form,” at the same time as the governor of the Central Bank of Austria Nowotny said.

“A special need to discuss is the anti money laundering law is applicable to bitcoin,” he told a press conference that.

He said that even small banks will be subject to strict control of money laundering, so there is no reason to trade larger bitcoin laissez faire, although this is more than the EU is the problem of the European Central bank.

Nowotny said, compared with the traditional currency bitcoin market is still smaller, which means that the problem is not it will threaten the current monetary system.

Nowotny told reporters, although there is no reliable data to prove, but Austria seems to attract sales bitcoin companies in the country to settle down, because in the local are more likely to receive a licence to operate.

With bitcoin prices triggered more and more attention, regulators and officials in many countries in recent bitcoin criticized or calls for regulation.

Last month, South Korean Prime Minister Li Luoyuan has criticized the digital currency, said it caused many teenagers and drug crimes in mlm.

He said that the South Korean students rushed into the fiery bitcoin market to make quick money, which led some people into the crime of fraud.

“If we left unchecked, may lead to a very serious problem,” he said, and said South Korea digital currency exchange trading volume has exceeded the country’s Kosdaq small cap index.

According to sources revealed the day before, South Korea’s Financial Services Commission has issued a directive, it is prohibited to engage in the bitcoin futures trading in securities company.

CBOE announced that it will launch a week ahead of bitcoin futures

CBOE announced that it will launch a week ahead of bitcoin futures

According to Cboe official website announcement, the bitcoin exchange futures “XBT” will be held at the central United States in December 10th five time in Cboe’s CFE futures officially listed for trading, and exemption from all relevant futures transaction fees before the end of the year.

The Commodity Futures Trading Commission (CFTC) just after the December 1st review, allowing bitcoin futures on the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (Cboe) trading, two in the launch of bitcoin futures on the runway began infighting.

CME early in October this year on the official website released the “notice”, and in 1, CFTC announced a regulatory decision soon after announced the launch of bitcoin futures trading in December 18th; while Cboe’s attitude is “the product is still in trial, will soon give you a satisfactory answer”.

Indeed, today (December 5th) Cboe “standard product” is a veil, and the launch date more than a week earlier than CME! According to Cboe official website announcement, the exchange bitcoin Futures (code “XBT”) will be held at the central United States in December 10th five time point in Cboe’s Futures Exchange (CFE) officially listed for trading.

Source: Cboe official website

The transaction fee waiver Cboe expected before the end of the year in the bitcoin futures on the runway “false start force”

CboeGlobalMarket chairman CEOEdTilly said in a statement

Taking into account the hitherto unknown investors bitcoin interest, trading tools to help customers to express their views and to hedge their positions have become crucial. We are committed to promoting fairness and bitcoin market liquidity, so we will launch in XBT futures is exempted from transaction fees.

In December this year, all XBT futures trading fee waiver.

In addition to Cboe and CME, according to the Reuters because of sources, the NASDAQ also plans to enter the bitcoin futures market, plan early next year in the two quarter of NASDAQ’s futures market launch of the product NFX. Obviously, Cboe wants to quickly occupy the leading position in the bitcoin futures of the “blue ocean”.

The core of infighting: competition for bitcoin pricing?

In the earlier editor featured article “two weeks bitcoin futures will incoming opportunity to make big money here? “Mentioned in the” Regulations “, CME futures contracts according to the pricing benchmark for CME with bitcoin reference rate (BRR:BitcoinReferenceRate), in the hope that the impact of the price of bitcoin for futures trading, and then through the traditional financial trading systems for bitcoin pricing.

This BRR is how come? The reference price is the weighted average price from several bitcoin exchange price calculations, these exchanges currently include: Bitstamp, GDAX, itBit and Kraken, but is not currently the world’s largest stock exchange including liquidity best Bitfinex price.

The launch of the Cboe XBT futures is similarly, according to the official Cboe statement, bitcoin price referenced by the XBT will be called digital asset exchange GeminiTrustCompany to an auction price as a benchmark, and a lot of digital currency industry media selectively ignore the Cboe this is not “mainstream” choice.

The Central Bank of Mexico refused to legal classification in virtual currency bitcoin

The Central Bank of Mexico refused to legal classification in virtual currency bitcoin

Mexico’s central bank governor Augustin? Carstens (AgustinCarstens) refused to adopt a “virtual currency” as the legal classification of bitcoin. Carstens believes that the word “currency” including bitcoin inappropriate classification, because bitcoin without a central bank to support or issue.

In addition, the new Mexico bill may change the fate of bitcoin.

Carstens believes that bitcoin lacks the support of the central authorities, so it cannot be classified as “virtual currency”.

The Central Bank of Mexico refused to “virtual currency” as the legal classification of bitcoin

The governor of Mexico’s central bank argued that encryption currency should belongs to the network security areas of government rather than by the state regulatory agencies as a “virtual currency”. Carstens pointed out that the encryption currency “can not from hackers, and that bitcoin largest utility is” it provides anonymity facts for users”. Prior to this, he warned that bitcoin is an attractive tool for monetary market entity.

Carstens suggested that the Mexico authorities seek carefully to promote the development and application of encryption technology in the currency of the national financial system. Carstens in the Mexico independent research institute (autonomous InstitutoTecnologico) delivered a speech that “the technological development of the financial system is not only the result of innovation”. There must be a free step, will not cause problems — suggests that Mexico’s central bank will seek to actively guide the encryption technology into monetary economy of Mexico ultimately affect the entire social financial system. Carstens also said, “the financial authorities will soon put forward a detailed proposal on crypto currency legislation.

Carstens’s comments suggest that the Central Bank of Mexico will not recognize any non statutory currency as the currency “”

The Central Bank of Mexico refused to “virtual currency” as the legal classification of bitcoin

Carstens’s comments suggest that the Central Bank of Mexico will not recognize any non statutory currency as the currency “”. Carstens will continue to bitcoin described as a “commodity”, he argued, “in the financial system have nothing to ensure its accounting”, which means that the central government is the necessary quality of money “.

Earlier this year, Mexico proposed a bitcoin is defined as digital assets act, and clarify the bitcoin exchange operations. The bill is aimed at Mexico government proposed to help more digital economic transformation, promote the Mexico science and technology financial industry growth, a part of the expansion of ordinary citizens to provide financial services to the new financing bill. Although he refused to bitcoin is classified as “virtual currency”, Mexico regulatory stance on encryption currency is currently in Latin America’s tolerance and freedom.

South Korea bitcoin trading volume rose to third in the world in Asia leading global bitcoin transactions

South Korea bitcoin trading volume rose to third in the world in Asia leading global bitcoin transactions


In the second quarter of 2017, the popularity of bitcoin has reached an alarming level, largely due to the financial market to block chain technology view.

In July 3, 2017, South Korea’s ruling Democratic Party member Pu Yongjin announced that the government will be fully involved in the supervision of bitcoin. For bitcoin, this is a watershed, it will certainly support the legitimacy of the bitcoin transactions, the market has become one of the world’s most advanced technology. The South Korean authorities will establish a framework to promote bitcoin transactions.

Now Philippines and South Korea to accept bitcoin cross-border remittance

Supervision to ensure that bitcoin will receive official status as a financial tool, for deposits, withdrawals and transfers. When it comes to bitcoin transactions, individuals and businesses will be able to comply with the regulatory framework, which will have so far been unregulated, unconstrained and independent of the form of financial assets. Provisions of the South Korean government’s request, to provide bitcoin trading platform, in addition to the comprehensive measures of AML (anti money laundering) and KYC (know your customer) agreement, should also hold at least 436 thousand dollars of capital resources.

In the past few weeks, South Korea’s bitcoin debate led to the introduction of a number of legal framework to regulate the industry. At present, the bitcoin industry is unregulated, but for the complete complete regulation of bitcoin, it is still the initial stage. 500 million won is required in order to protect the company from traders and dereliction of duty, misconduct and online fraud. By providing a “capital buffer”, industry to a certain degree of confidence to maintain operation.

South Korea bitcoin market ranked the world’s top three

FinTech, inspired by the country’s regulators approved the latest news encryption currency trading in korea. Financial regulators are required to legalize bitcoin trading in korea. Now, bitcoin is accepted as the official payment options.

At present, the regulations allow customers through bitcoin processing of 20000 dollar remittance. This is a digital currency buyers provides an important opportunity, especially when the South Korean currency trading market began to rise. The expected strong growth in recent weeks, far beyond the bitcoin high of $3000. According to the news that South Korea’s currency trading market is responsible for handling all bitcoin transactions around the world 14%. It came after Japan and the United States ranked third, becoming the top bitcoin trading countries.

Bitcoin transactions mainly by the Asian market

An estimated 650 million people in Southeast Asia is also a developed payment and banking system under the area basically. Fortunately, the rapid rise of cryptography, especially bitcoin, may fill the gap. Philippines, Indonesia and South Korea have been rapidly promoting bitcoin is widely used as a substitute of traditional currency. Indonesia and Philippines have the same large and well-developed bitcoin exchange. Asia is a rapid adoption of bitcoin areas, such as Laos and Vietnam countries are also accept the alternative currency.

A landmark event: bitcoin just beat gold!

A landmark event: bitcoin just beat gold!

According to the CoinDesk bitcoin price index on Thursday, the United States market trading, bitcoin dollar price over the price of gold for the first time in eight years, once reached $1251.32.

Digital currency research company CryptoCompare CEO and founder of CharlesHayter and many other bitcoin observers have pointed out that there is a positive correlation between currency and gold, more and more investors are willing to accept this kind of digital currency, when the stock and other traditional market pressure, investors are more willing to buy coins. According to the report, the financial market continued uncertainty and the new president of the United States and the government will continue to support the gold market anxiety. Also, analysts believe that bitcoin market rebound may be the latest and Chinese independent, but with President Trump’s policies on.

Moreover, the market is speculation first bitcoin Exchange Traded Fund (ETF) will be established to obtained the approval of the U.S. financial regulatory agencies. Three tracking bitcoin value ETF has the U.S. Securities and Exchange Commission (SEC) submitted the application for establishment of SEC in March 11th, and will decide whether to approve the Cameron and the TylerWinklevoss brothers submitted 4 years ago to apply, if approved, it will be the first by the United States Agency for entities and supervision of the bitcoin ETF, can improve bitcoin is usually more cautious on institutional investors attractive.

However, capital chain block (BlockchainCapital) researcher SpencerBogart ETF believes that the possibility of bitcoin approved low, but if approved, the percentage increase will be greater than the first gold ETF iSharesSPDRGoldTrust gold has approved the increase.

Although the Commodity Futures Trading Commission (CFTC) has been classified as bitcoin commodities, as gold, but there is at least one important difference between the two: the capital market is about $20 billion bitcoin market is far less than the gold market, and the volatility is far greater than the gold market.

Bitcoin has become more mainstream, because many companies have now accepted it as a form of payment, stock strategist MattMaley CNBC in the “transaction” program that support bitcoin instead of gold, but many gold enthusiasts still bitcoin suspicious.

This year, gold rose nearly 8%, in contrast, bitcoin soared more than 25%. The raw materials and the futures trader AndrewHecht SeekingAlpha issued a document that the dollar is strong or the Fed rate hike is expected to heat up drag gold, gold prices in the battle in retreat. Bitcoin is not affected by the strong dollar, continue to rise, due to China, such as Russia and Venezuela have extremely strict capital controls, exchange rate fluctuations, before people buy gold for wealth preservation, convenient capital flight. Bitcoin appears to make capital escape easier, as long as there is a mobile phone or computer, can carry out overseas, may therefore demand.

Since bitcoin and gold is a hedge, bitcoin can replace gold concern. Some experts believe that bitcoin risk is too high, to the next generation, gold still will be the main place for wealth preservation. If the gold and gold coins as a brand, market position is much higher than that of bitcoin. Gold wealth preservation function clear, bitcoin value is difficult to measure. On one hand the number of coins are scarce, the world’s only 21 million pieces, if instead of gold, the price will be high to amazing, holders may be reluctant to trade; on the other hand, bitcoin value may also be overnight evaporation, if the rise of new digital currency, or the authorities decided to destroy bitcoin, can make the value of bitcoins disappeared exhausted.

Nigeria’s central bank said publicly that the central bank can not control or supervision of bitcoin

Nigeria’s central bank said publicly that the central bank can not control or supervision of bitcoin

At the beginning of last week, at a time by the Nigeria Institute of Chartered bankers (CIBN) the breakfast meeting, the country’s financial technology (fintech) in the field of top people gathered together, and discuss the encryption currency (especially bitcoin and block chain technology) effect.

The conference entitled “virtual currency (encryption): evolution, the impact of regulatory challenges and future of payment and settlement system”.

After the meeting, Mr. MusaItopa-Jimoh said in an interview with foreign media ProshareWebTV:

“The central bank cannot control or supervision of bitcoin, the block chain is the same. This is like no one can control or regulation of internet. This is because we do not have it”

After Nigeria’s central bank for encryption currency warning

Interestingly, in the past, Nigeria’s central bank has issued several times for the encrypted currency warning, including bitcoin. In January 12th this year, the central bank issued a notice to the country’s banks and financial institutions, asking them not to use, hold a virtual currency, or using this kind of technology trading “, the notice mentioned in the bitcoin currency, Vicat (onecoin), Munro currency (monero) and dog coins (dogecoin) as an example, and said, still insist on the use of digital currency bank must own risk”.

On the same day, the Nigeria securities and Exchange Commission (SEC) issued a statement to remind the public of prudent investment bitcoin, VEKA currency (onecoin) and Swisscoin (VEKA and Swisscoin are selling currency currency, and the securities and exchange board of Nigeria but were confused), and tell the public that this investment is there is a risk in essence.

The Central Bank of Nigeria: “we cannot stop bitcoin”

Although the central bank warned of encryption currency, Mr MusaItopa-Jimoh explained that the application of Nigeria’s central bank is not intended to prevent bitcoin.

“We are not issuing institutions bitcoin. It is not our money, we don’t control it, we do not release it, so we don’t control it, “he said,” we just issued a warning to the Nigerian people, if investors continue to participate in the encryption monetary investment, then they will not be affected by the Central Bank of the protection, because it is not within our control.”

He also pointed out:

“A lot of people misunderstood, they think we want to stop bitcoin. We can’t stop bitcoin. Bitcoin is not 2015 or 2012 of the invention, it is not the invention of 2010. Therefore, the Central Bank of Nigeria (rather than the World Bank) to stop bitcoin operation and implementation?”

Bitcoin exchange CoinBase BitLicense license from the state of New York

Bitcoin exchange CoinBase BitLicense license from the state of New York


New York Financial Services Authority (NYDFS) has been awarded to cryptography currency trading platform Coinbase formal business license to conduct business in the state.

Although Coinbase allows users to provide services for the state of New York on the premise of safety, but the formal “BitLicense” will further strengthen the operational state of the exchange.

At a time when the exchange and IRS IRS expensive lawsuits to protect the user’s data, the business license is proof of compliance with regulatory Coinbase.

Coinbase CEOBrianArmstrong said in a statement:

“At Coinbase, the first task is to make sure that we are the world’s most security and compliance of the digital currency exchange. We are very pleased to receive BitLicense, will continue to expand our business in New York.”

According to the NYDFS statement to CoinDesk, the license is in the comprehensive assessment of Coinbase’s anti money laundering, capital, user protection, network security policy grants.

The company will continue to monitor by the regulators.

Coinbase in San Francisco is the largest enterprises to obtain financing in the industry, so far has been financing $117 million in venture capital.

A historical review

BitLicense originally released in June 2015, the purpose is to bitcoin currency exchange or cryptography provides a framework for enterprise.

However, in the first 22 applications submitted after the found of the controversial license for many start-ups are too expensive. In fact, this is so far from the third BitLicense, many applications have been rejected.

In September 2015, Boston enterprises Circle won the first BitLicense, although the company in December 2016 from the bitcoin exchange to pay.

Last July, San Francisco enterprises Ripple was second BitLicense.

In addition to BitLicense, NYDFS to Gemini bitcoin start-ups and itBit company awarded the bank trust enterprise license.

Financial services for Vullo in the statement concluded:

“New York is committed to nurture and encourage new industry in the long-term development of the state, but also take the necessary measures to protect our market and consumers.”

If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.

2016 10 Coin circle event!

2016 10 Coin circle event!

The 2016 year is a feeling of exaltation upon fulfillment of bitcoin. Looking back on this year, bitcoin prices have about 2800 yuan from the beginning of the year rose to more than 6800 yuan, rose over 100%, hit a three year high, is undoubtedly one of the most valuable investment products in 2016. As of now, the total market value of bitcoin has reached $15 billion.

Rose with the previous price seems to be somewhat different, this year, more people talk about bitcoin blockchain is no longer taboo, more and more people face bitcoin value. In the global political and economic shocks under the environment of bitcoin as a safe haven asset talent shows itself.

In this year, bitcoin ushered in the 8 birthday, but also experienced second times of halving production, now each block bitcoin production was 12.5 BTC. From the various indicators, bitcoin infrastructure gradually improved, the user base is expanding, more widely used.



This year’s observation of digital currency and the blockchain community, striking several new trends: financing is not easy and ICO hot market; central bank policy and grassroots entrepreneurial companies in parallel; exchange rate fluctuations and currency bitcoin prices firm.

The following list of ten you must not ignore the events happened this year. After a few years back, maybe will find that you are experiencing at the time, perhaps the history of the development of bitcoin, or even a major turning point in the history of world currency.

Governments waste bills, India bitcoin premium 10%

In November 8th, India’s prime minister Narendra modi? Announced the abolition of face value of 500 rupees and 1000 rupees notes — were equivalent to approximately $7.5 and $15. Subsequently, the “waste money” has undergone a series of changes in the rules. For the first time announced the “waste money”, Modi stressed that the main is to cut off terrorist financing. He also stressed that the move is more in order to recover the tax evasion of the money and then changed, in order to encourage more use of digital payments in india.

India’s former Prime Minister Singer criticized it as a “legal plunder”. Now to the people of India began to seek alternative assets, a time India bitcoin currency prices are hard to find, beyond the international market price of nearly 10%.

Coincidentally, Bolivar notes Venezuela abolished the 100 yuan denomination, issued 6 new banknotes larger denominations; the Australian government announced the abolition of large amount of cash in May; in December 19th, Indonesia also played “waste money”.

While a bitcoin prices, from 4800 yuan at the beginning of November, to 6800 yuan under. In less than two months, rose over 40%.

The government “waste money” play the slide, the consequences are serious lack of credibility, on the contrary, bitcoin talent shows itself in a round of “waste money movement”, not only the price rising, also let more people aware of the importance, block chain technology of protecting personal property inviolable.

The global economic and political shocks, bitcoin hedge outstanding characteristics

In addition to the multinational waste note, 2016 events also occurred a few pieces of the impact of the global economic trend. In the reflection of a British exit, Trump stage events, bitcoin degree showed similar hedging properties of gold.

In June 24th, the British and European referendum results were announced, more than half of public support from the European Union, British Prime Minister Cameron also announced his resignation. The pound plunged, bitcoin prices rose, rose nearly 20%, stable prices of 4300 yuan in the next.

In November 9th, with the election vote count continuously released, many assets hit the maximum amplitude since Britain returned to Europe, but bitcoin no accident rose sharply, nearly 5000 yuan. The reason is that the market generally believes that the uncertainty surrounding Trump proposed policy will promote the safe haven asset price.

In addition, the continuous depreciation of the RMB and foreign exchange control brings a strong demand for bitcoin market, bitcoin prices soared.

Follow up the pace of 2017 may be the supervision, supervision?

Bitcoin from the date of birth, always in the regulatory gray area, regulatory uncertainty is the huge risks of digital money and block chain development. But from the beginning of 2016, the situation is not quite the same. Look at this simple regulatory level and bitcoin blockchain attitude:

Japan: March 2016, the FSA will be defined as a commodity; in May, Japan’s first approved digital currency regulation bill, and the definition of bitcoin property.

South Korea: financial supervision agency established a working group to focus on digital currency, bitcoin exchange regulation.

Singapore: Singapore in August 2016, the central bank for the domestic payment providers put forward new regulatory measures.

Australia: Australian Taxation Office (ATO) is defined as bitcoin “intangible assets” rather than money; in November, the Australian government issued a white paper digital currency guide.

North America: in the United States this year, more stringent regulation. Previously, the Obama administration asked the IRS (IRS) of Double Taxation on the field of digital currency. Famous digital currency exchange Coinbase is required to submit user information; the Canadian government actively promoting bitcoin legislation.

Europe: Russia to give up the implementation of bitcoin ban; Britain’s global advisory bitcoin Investment Fund (GABI) has recently been approved for listing on the Channel Islands stock exchange; belong to the British territory of Gibraltar issued the first bitcoin exchange traded instruments (ETI). This is the first European regulatory bitcoin tools currently on-line at the same time in Gibraltar and the German stock exchange.

The block chain, supervision and supervision is not a bad thing, to a certain extent, means “admit”. All the countries in the world have opened bitcoin digital currency supervision way, in 2017, I believe there are more regulatory policy implementation, digital currency community will achieve more benign development.

Block chain industry financing is less than last year, ICO mixed market

Near the end of 2016, the finance industry the latest data we have not seen, but according to CBInsights statistics, nine months before 2016, the block chain and bitcoin startups in the 92 party financing events to raise $492 million. At this rate, investment in 2016 than the 2015 decline in trading activities.

On the contrary, the 2016 also witnessed the hot ICO market. 2016 is known as the first year of ICO. In this year, a number of projects to obtain financing through ICO way. ICO is derived from IPO, is unique to digital currency community, is short for InitialCoinOffering. This is the main way of digital currency and sell tokens to block chain project project early enthusiasts, the project team will use the ICO to access funds for development and expand the market.

This year, TheDAO became the largest amount of all the cases raise to $150 million the results, WAVES, Lisk, small ants, leading domestic projects are adorable treasure, has been successfully completed the ICO, with the birth of a number of block chain to raise public platform, foreign bnktothefuture, domestic currency chips, cloud currency net ICO365.

The hot time makes a large number of items into the ICO market, the project quality is uneven, the lack of regulation, lack of user education leads to serious emotional speculation, the project line break, or simply failure to raise the public as a result of ICO overall market sentiment is not high, the original win-win innovation becomes a hot potato.

In spite of this, investors in the ICO has not lost confidence, hope the upcoming 2017 ICO project will not disappoint investors.

Frequent theft: exchange spared; DAO Road, very road?

Hackers bitcoin events from the date of birth is always accompanied by now. In 2016, several well-known digital currency exchange is also difficult to escape. In May 14th, Hongkong digital currency exchange Gatecoin is stolen, the etheric Fang related assets worth more than 2 million dollars in losses; in August 4th, the well-known Bitfinex exchange is stolen, loss of 120 thousand BTC, worth more than $72 million.

Remove the exchange, the most popular project to raise TheDAO is black but it is also caused a be struck dumb, this year another big event: Ethernet square branch.

In April 30th, based on the application of TheDAO Ethernet square project for a 28 day to raise public. DAO is to the center of the autonomous organization, TheDAO can be seen as the congregation raised a venture capital fund, fund authorized by the voting DAO token holder for Ethernet square project. In May 28th, the end of all the chips, get more than 11 million 500 thousand Ethernet coins, worth more than $150 million, to become the world’s largest in the history of the amount of the project to raise the public.

No one expected that, in June 17th, hackers launched for TheDAO smart contracts more vulnerabilities, and the transfer of 36 million of the value of the currency of Ethernet to an anonymous address, almost all the chips TheDAO total 1150 Ethernet 1/3 dollars.

In order to save many stolen losses to investors, in June 30th, VitalikButerin proposed the etheric Fang founder hard in July 21st, more than 85% bifurcation scenario, the support of hard hard etheric Fang bifurcation, bifurcation, the ETH (Ethernet and ETC (Ethernet Square Branch) Fang original chain) two independent block chain.

TheDAO theft has become a commonplace talk of an old scholar of similar incidents, each time, remove the investor confidence suffered a serious blow, frustrated price, digital currency will be double community legal regulation and moral aspects of torture.

The etheric Fang questioned the bifurcation, breaking the myth of smart contracts

In July 21st, the implementation of Ethernet Fang hard bifurcation, ETH and ETC two chain.

Despite the loss of stolen back, but take a hard way to make Ethernet bifurcation Fang lost a part to block chain to the center and not tampered with supporters in the community. At the same time, because of the complexity of smart contracts, and ignore the TheDAO loopholes, smart contracts are being questioned.

In the next few months, ETH has carried out 4 hard bifurcation. The development route of ETH and ETC have be quite different. Based on the original Ethernet Fang as the representative of the ETH developer community members, still take the intelligent contract way; and the other side supports ETC Ethernet square original chain, the miners as the representative of the supporters, to walk PoW line.

The ETH community recently without too much news release, and the progress of ETC from scratch community activities like a raging fire. In November 23rd, ETC ETCWin announced the first project to raise the public to raise public success, and in the recently launched ETC enthusiasts community ETCFans.

The price, the current ETH and ETC sum of the market value has dropped to less than half the bifurcation. Separately, the recent ETH prices continue to decline, maintained at around 50 yuan, face enormous challenges; on the contrary, the recent strong performance of ETC, the current price of 7.5 yuan, with more developers to join, monetary policy is finalized, application gradually fall, ETC is worth looking forward to the prospect.

Nakamoto again “appeared”, “looking Nakamoto” game when Hugh

Nakamoto Mami has been one of the biggest mysteries bitcoin circles. In May 2, 2016, Australian entrepreneur Craig Stephen White publicly acknowledged that he is the inventor of bitcoin Nakamoto, this is the first time publicly acknowledged.

In December 2015, early in the first half, “connection” magazine reported that White may be Nakamoto himself, a series of media released also showed traces of subsequent White is one of those years are considered Nakamoto who is one of the most “like” nakamoto”.

Unexpectedly, the bitcoin foundation and founding director of the JonMatonis BitcoinCore GavinAndresen before the defenders, are in their blog to support White is Nakamoto, but with a series of evidence to overthrow White to give up and continue to prove to the supporters of apology, Gavin also admitted for nakamoto.

The annual search for Nakamoto will cause a great disturbance in the currency of the circle, without exception, to admit the end. Perhaps this is disappeared in the Cong bitcoin designed to follow to the center, looking Nakamoto this game is probably the best result that Nakamoto disappeared in the history.

The expansion is still in suspense, the focus of the community

A block of expansion has been debated for more than a year. How to fix the ductility and realize the block expansion, currently the main focus of debate focused on two programs: BitcoinCore and BitcoinUnlimited.

Core solutions are deployed isolation verification, has been part of the community support, but in the second half of this year, gradually pool and community leaders come out publicly against.

Unlimited’s view is that the block size should be adjusted by the market, but the need to achieve through hard bifurcation. Etheric Fang hard bifurcation earlier, has not yet reached a consensus in the community situation, bitcoin is a hard branch split into two risk system.

This debate is still ongoing, how in the end there is not yet conclusive. 2017, the expansion will continue to be a focus problem.

Bitcoin 8th anniversary, output halved again

Beijing time on January 3, 2009, the birth of bitcoin block.

In November 28, 2012, bitcoin ushered in the first half of the yield, the interval of 1425 days, about 3.9 years.

In July 10, 2016, along with 420000th blocks of bitcoin bitcoin block was born, ushered in the production again halved, time spent 3 years 7 months and 11 days 1 hours 21 minutes and 35 seconds after the half, half block reward for 12.5BTC.

Bitcoin, this year there is another thing to remember. According to the white paper release time to count, November 1, 2016 is just the 8th anniversary anniversary of the birth of bitcoin.

In November 1, 2008, claiming the Cong (SatoshiNakamoto) the mysterious figure released a white paper in cryptography bitcoin mailing list. At that time no one expected, the birth of bitcoin opened a new era.

8th Anniversary November 1, 2016 birthday, bitcoin prices exceeded 5000 yuan, do not know is not bitcoin’s wishes for community users?

The development of digital currency, open recruitment of talent chain block

Back in early 2016, the people’s Bank of Chinese held a symposium to discuss the central bank launched a digital currency digital currency, multi scene application of digital currency, once ignited the enthusiasm of investors and practitioners. Bitcoin prices also opened this year’s bull market.

In February 13th, the people’s Bank of China governor Zhou Xiaochuan said the technical route based on digital currency can be divided into account and not based on account of two, can also be used to coexist and stratification. Block chain technology is an optional technology, which is based on distributed bookkeeping, accounts, and can not be tampered with.

In November, the central bank issued a legal prototype scheme of digital currency has completed two rounds of revision, is expected to scenarios in the paper market relatively closed pilot. The same month, the central bank website published 2017 annual recruitment information display, the scientific research units directly under the people’s Bank of China began recruiting printed digital currency related R & D personnel.

In December, the “Shenzhen Evening News” headlines reported: Shenzhen has established the first national Fintech digital currency union and Research Institute, is the first national rate pilot digital currency. This is after the central bank announced the establishment of digital currency Research Institute, China’s first local city from open, national financial innovation to promote the strategic height of RMB internationalization, initiated the establishment of financial technology alliance and research institute. The central bank to promote digital currency fall further, the extraordinary significance.

Not only is Chinese, Britain, Singapore and other central banks have begun to layout in the field of digital currency, the gradual development of testing and issuing their own digital currency.

If the central bank had a digital currency only refers to the digital currency, and other digital currency bitcoin is not a concept, a year after the central bank to deepen the understanding of digital currency will find that the national level of the blockchain attention, is probably the strongest driving force to promote the blockchain application scene of large-scale landing.

Today, the highest price of bitcoin has exceeded 6800 yuan, a rise of community enthusiasm. With the regulatory policy ground, further expand the application of ordinary people, bitcoin acceptance increased, in 2017 the global trend of negative interest rates, bitcoin, it is worth looking forward to.

If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.

Russian political party leaders proposed the legalization of bitcoin, said more than 2 million citizens have bitcoin Wallet

Russian political party leaders proposed the legalization of bitcoin, said more than 2 million citizens have bitcoin Wallet

According to Russian media reports, a small party in Russia is to accept bitcoin donations.

Boris Titov (TitovBoris), Russian President plenipotentiary and the protection of the rights of entrepreneurs, Justice Party leader, the Party tried to steer growth (PartyofGrowth) create a clear and transparent legal system and regulatory scheme for encryption currency, including bitcoin.

The growth of Russia party (PartyofGrowth), which represents the liberal market economy and democracy, the party that bitcoin block chain technology has made rapid development in the world, including russia. Therefore, the party proposed to legalize bitcoin mining, and officially recognized bitcoin property rights.

The Russian news agency in an interview with TASS, Boris said the crypto currency (such as bitcoin) importance in Russia economy, and emphasized their impact on the financial industry.

“We (growth party) estimated that more than 2 million Russian citizens have opened their wallets,” Boris said. He also emphasized the bitcoin blockchain technology, and its advantages will actively promote the economic situation in russia.

With the help of Boris Titov, the growth of the party will modify the foreign investment law, in order to attract foreign investors bitcoin venture investment in Russia and mining company. Boris hinted that the party might persuade the government to cancel the bitcoin investment restrictions, digital currency to stimulate growth in the country.

It is reported that the party also plans to use bitcoin blockchain for government service. Specifically, Boris said that the Russian court can use the timestamp of bitcoin transactions, to protect and record their data, placing them into an irrefutable distributed among the books.

In the past few years, although Russian President Putin has repeatedly appeared to discuss bitcoin legitimacy in Russia, but so far, Russia is still not established regulatory programs in any form, or to clarify the legal status of digital currency and financial transactions to solve the right to use them.

The growth of the party and Boris Titov’s attitude, or will lead to the Russian government officially recognized bitcoin as a kind of property, and allow Russian citizens to exchange digital currency.