At least if they are talking about regulating it, they won't ban it like China...but I feel the more they try to regulate it, it will just push other coins into the shadows to avoid the tax monster...they won't be able to corral all of the horses and its going to frustrate them.
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China didn't ban it, it was a scam, somebody hacked some idiot's email:
http://www.scmp.com/business/article/2132379/us-news-groups-targeted-bogus-email-claiming-widening-hong-kong-bitcoin