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China might ban cryptocurrency exchanges soon (although proofs don’t look solid yet)

14 September 2017 21:00, UTC

The Twitter account dedicated to Ethereum Classic, a cryptocurrency appeared due to a hard fork of Ethereum, has posted a curious photo of what looks like a Chinese document. The poster translated some major segments. It appears that the Chinese government will not tolerate cryptocurrency exchanges anymore, orders to present a 5-day plan of closure, move the clients’ funds onto a new separate bank account. “Shutdown announcement should be published not later than 12pm,15th, Sep. Set a stop-trading date and no more new registers from today” – ETCChina translates in a series of tweets.

Image posted on @ETCChina Twitter account

This supposed leak is happening amidst the strange atmosphere surrounding Chinese cryptocurrency exchanges lately. Shanghai regulators warned some exchanges in such a way that two big exchanges, BTCC and ViaBTC, have already closed. Yunbi, another cryptocurrency service, has just announced its closure by the 20th of September. At the press time, it’s still unclear if the document is true, many Twitter users note the lack of sign or governmental stamp on the photo. It’s better not to jump to conclusions in these situations, but judging by the turn of events with the ICO ban, we might see the confirmation of these rumors next week.