The  BTC China exchange has published a statement reassuring Chinese investors that their operations will resume as normal despite looming uncertainty. The People’s Bank of China is expected to issue a public notice later this month about BTC transactions. The whole BTC scare was created when unconfirmed rumors began to fly around on the internet about a “possible” clamp down on Bitcoin-related money transfers, like BTC to Yuan, in China. Some of the unconfirmed reports put the 15th April as a possible release date of said “official message”.

However, we have heard these rumors before. First it was April 2nd ,on which date the People’s Bank of China would come with a statement, now it has been moved to April 15th. It seems that this is just another feeble attempt to manipulate the BTC prices, so that banks and other organizations can buy up as much BTC and other Crypto Currencies like WDC, Doge and other reputable virtual coins, in an attempt to “control the market”.

BTC China putting on “poker face”?

In the face of this, BTC China appears undeterred. The exchange tried to reassure the Chinese Bitcoin community In an open letter.  Because BTC China had received official communications from the People’s Bank of China that:  “We’ve been tracking this issue. Whether it is local banks, Beijing’s central bank level, media channels and industry peers, we are paying close attention and keeping in contact. If we have any updates, we will immediately inform you.”

The game of “what if’s”.

If the worst comes to pass, BTC China insists that the “core values” of Bitcoin, notwithstanding the price, will remain intact, regardless of what the PBOC chooses to do. What would people do then to get their Bitcoins, WorldCoins, Dogecoins, etc?

There are different options. Chinese people can just buy them abroad in foreign exchanges and open other bank accounts around the world. This can work for a while but when the regulation of the Crypto will start, this will be taxed and can have some hefty legal problems. However this is too complicated for some people and it isn’t always possible to open an offshore account plus it can be tracked by government agencies and as a result you can be in a legal pickle very quickly, depending on the laws in your country.

So how can someone get their Crypto while avoiding all these nasty legal ramifications? There is a new buzz in the Crypto world around a product called Prypto. According to their website and other reputable news sites, they are scratch cards with a code on them. So yes, you actually can touch your crypto for a change. It is quite easy to use and according to the news sites, and the interest is extremely high in Prypto.

Regardless of the outcome in China, this new Prypto scratch card will be a safe and secure way for people to get Crypto very easily because you can buy them with ordinary money (Dollars, Euro’s, Yuan, etc)

Links

http://www.reuters.com/article/2014/04/03/idUSnGNX7Gg3pL+1d1+GNW20140403

http://prypto.com/