ViaBTC To Launch An Exchange Not Under Chinese Control
Disputes created by the new decision of the People’s Republic of China have worried many. ViaBTC company, on the other hand, announced that it will not take this violation from the bottom and will put a trading platform operating outside of China for sale.. Together we will see what the results of this interesting decision will be.
Introducing an overseas stock market is a Chinese company, which does not prevent it from trading anywhere. Seems very logical for ViaBTC. For now Bitcoin companies, staying out of China is the best decision, because no matter what, the suspension of the Chinese Yuan exchange is temporary, but this is not the case. The process may take months, if not years.
ViaBTC’s overseas exchange plan
Considering how large an influx of international users ViaBTC has been exposed to before This plan is hardly surprising given the. Company claims 1 in 3 users are not Chinese. This is an indication that the company’s services are getting more and more attention.. Considering that the company will be terminating all operations in China within a week, new event plans had to be established as quickly as possible.. It is not yet clear whether cloud mining and mining pools services will be affected by the new regulations.
For now, there are many assumptions about this new exchange.. Its name, country of operation or launch date have not been officially determined yet.. Still, seeing more Bitcoin exchanges is a welcome development as competition is always beneficial in the cryptocurrency world. Especially if the new platform can show support for more international currencies such as Euro, Russian Ruble and Asian currencies.
It is now clear that China’s ban will not disrupt the market any more. All problems will be left behind as companies launch new platforms in different venues. Eventually, China will have to cut all ties with the rest of the world in this sector. We’ll see if this is a wise business decision.. This interesting experience with ViaBTC will be worth watching.. One thing is certain is that companies in China will have a hard time staying relevant.
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