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Roundup: China, Financial Trading & Coin178

Chris in Bitcoin & Cryptocurrency published on 15, August 2015

Bitcoin Regulation in China

How China Slowly Dominates Entire Bitcoin Market

Bitcoin is not only popular in the US and in Europe. It has also become a major hit in Asia, specifically in China, where the majority of Bitcoin transactions come from. With the Asian economic powerhouse generating much of the transactions online, it becomes apparent that it is slowly dominating the Bitcoin market. This became more evident when the People’s Bank of China devalued yuan, which resulted in more yuan holders investing in Bitcoin to preserve the value. At the same time, the future of Bitcoin in China becomes more interesting as the CEO of Bitcoin exchange Huobi expressed his support for Bitcoin regulation in China. He emphasized, though, that regulators must make the policies in favor of innovations and the innovators.

“Research into Bitcoin and blockchain should be encouraged and supported strongly. Chinese regulators must look at how the other jurisdictions—like the US—are opening its mind towards creating better policies for the digital currency sector… This would reduce certain risks for both businesses and consumers.”

Bitcoin Gains Ground in Forex, Binary Trading

Some say that Bitcoin was made specifically for gambling, but various sectors have proven that this digital currency is capable of fueling other sectors to grow. Case in point: forex and binary options trading. Several licensed brokerage firms already offer Bitcoin as one of the tradable assets, and this strengthens the cryptocurrency’s position on the market as a means for investments to grow. With its volatility, however, binary options trading becomes the more preferred financial instrument between the two.

“The characteristics of Bitcoin opened a new dimension that showcases the innovative changes imposed on certain industries upon the use of cryptocurrencies. Bitcoin harnesses a global community of traders that enjoys the advantages of digital currencies. Among its evident features, its instability is rather the most beneficial to people investing their funds in short-term Bitcoin trades.”

Coin178 Promotes Live Bitcoin Gambling in Asia

Based on a legal land-based casino, Coin178 succeeds in providing a unique Bitcoin gambling experience to players that are predominantly based in Asia. Accepting the cryptocurrency and the fiat currencies from countries like China, Hong Kong, Indonesia, South Korea, Malaysia, and Thailand, this Bitcoin casino features live gambling via real-time video feeds, enabling online players to place bets along with players in the brick-and-mortar casino. It also forwards attractive bonuses and promotions guaranteed to keep the betting experience exciting and rewarding.

“Bitcoin casino bonus deals are in store for all registered players, and newly signed bettors are welcomed with the 200-percent bonus, which can boost their bankroll by up to 3,300 mBTC. On top of this, players even have the privilege to receive a monthly bonus of as much as 200 mBTC, provided that they meet the required betting amount the previous month.”

How BTC Gambling Functions Amid Regulation Efforts

Developments in the creation of Bitcoin regulation bills in various countries continue to progress. In fact, New York’s BitLicense has already discouraged several Bitcoin exchanges and service providers from catering to customers within the state. BitFinex is the latest Bitcoin exchange to join the withdrawal of services from New York, following GoCoin and ShapeShift to name a few. Meanwhile, Australia is looking to treat Bitcoin as real money, potentially exempting Bitcoin businesses from being subject to double taxes.

“This would mean that the country is slowly treating Bitcoin as a real currency, which—if it pushes through—will serve as a monumental step for the cryptocurrency ecosystem.”

Bitcoin Gambling Guide Leads with Over 400 Reviews

With more than 400 reviews, Bitcoin Gambling Guide further establishes itself as the premium source for everything Bitcoin gambling. It continues to publish updated reviews of new and old Bitcoin gambling websites, be they casinos, poker rooms, sportsbooks, dice sites, and other related brands. Moreover, regular publication of news about the latest trends, developments, and insights on Bitcoin and cryptocurrency gambling pushes through, assuring the online community of up-to-date and relevant information.

“Launched in July 2013, it has functioned as the one-stop shop for the betting community, as well as for the entrepreneurs who wish to enter and expand their opportunities to succeed on the flourishing market for Bitcoin gambling. Despite already pushing the niche market closer into the mainstream, Bitcoin Gambling Guide stays true to its mission of bringing cryptocurrency-operated online gambling to comprise a larger share of the thriving iGaming industry at present.”

 

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