
China to block cryptocurrency platforms that allow centralized trading - rbanffy
https://www.reuters.com/article/us-china-bitcoin/china-to-block-cryptocurrency-platforms-that-allow-centralized-trading-bloomberg-idUSKBN1F41G9?utm_campaign=trueAnthem:+Trending+Content&utm_content=5a5ca12304d3013916c96e0b&utm_medium=trueAnthem&utm_source=twitter
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LAMike
The 0x protocol will come in handy in China soon.

[https://0xproject.com/](https://0xproject.com/)

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theamk
How so? From what this (very brief) articles says, "Chinese authorities will
also target individuals and companies that provide [...] settlement [...]
services"

No matter what protocol and software is used, at some point, people will want
to convert cryptocurrency to/from yuan. This cannot be done anonymously -- the
options are face-to-face or via traditional banking system. In either case, it
is pretty easy for authorities for find and arrest the relevant people.

I bet less than a hundred people arrested will be enough to scare everyone
else so that all major exchanges will get closed.

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malux85
Not unless people start to accept crypto as payment - it's not going to
totally replace fiat quickly, but I have started taking payment from my
clients in ETH, and also am selling digital goods and taking crypto as
payment.

I am also paying others in crypto. Sure it's niche now, but the only barrier
to adoption is a bit of technology advancement and belief in the value.

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thisisit
> platforms that allow centralized trading

How are these platforms different from a cryptocurrency exchange?

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NeonVice
I believe the definition was purposefully left vague to allow authorities more
discretion in shutting down the services designed to facilitate peer to peer
transactions(e.g. sites resembling localbitcoins).

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KasianFranks
Smart and good move. The whole thing about being decentralized is that you
don't need one body controlling the flow of a familiy's cash especially when
they need water, food and toilets.

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mancerayder
What exactly is the definition of de-centralized trading? Peer-to-peer
transfers? With no market in place (since markets are centralized), isn't this
like outlawing all exchanges?

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gitgud
Centralized trading does refer to website exchanges I believe.

But not all exchanges are centralized. For example [1]BISQ is one of many
decentralized P2P exchanges.

[1] [https://bisq.network/](https://bisq.network/)

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jQrgen
So [https://bitshares.org/](https://bitshares.org/) and other decentralized
exchanges are still allowed? Wow.

