Chinese exchanges may come back! With some new rules...

Rumors are swirling after a statement from China's official press agency Xinhua News stating:

 "Virtual currencies have become the top choices of underground economies. We shall adopt ‘0-tolerance policies’ towards crimes hidden underneath and take measures such as record-keeping, licensing, AML processes, real-name, limiting large transactions."

Without reading too much into this short statement, it does seem likely that we could see the return of Chinese exchanges soon. However, specific requirements and whether exchanges will need to go through a licensing application/approval process is yet to be seen.

We'll be watching as this story develops.

Author: Adam Lee
Asia News Desk