29 May '14, 1am

[2014-05-29] BitBeat: Bitcoin Continues to Grow Gingerly in China: Theyre referring to a host of new innovat...

–Who’s afraid of the People’s Bank of China? Not Danny Deng, it seems. The founder of 798 Satoshi Square, a bitcoin informational and meetup site in Beijing’s art district, has teamed up with Robocoin to give mainland China its first two-way bitcoin ATM. Ever since the PBOC blocked banks from servicing digital-currency exchanges last month, regulatory guidelines in China have been vague. As such, Mr. Deng’s service will at this stage likely be restricted to demonstration purposes only, says Robocoin chief executive officer Jordan Kelley. “They’re really treating this as, ‘let’s go out, let’s introduce this, let’s show how compliant it can be, and we’ll see what happens,’” Mr. Kelley said. Within the 1,000-foot space of 798 Satoshi Square, “they can control the environment, and make sure it doesn’t get out of control.” BTC China, the big Chinese digital-currency exchange, i...

Full article: https://bitcointalk.org/index.php?topic=629482.0

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