Since then, price has been doing fine in the West, despite a massive discount building in Chinese spot markets:
So we're in a situation where China has forbidden BTC withdrawals, potential Wall Street money has been denied, and price still fights at its near All Time High levels.
More recently, BitVC; which is Huobi's futures exchange, has closed down due to regulatory pressures. Traders were wondering, is OKCoin futures next? OKCoin.com is meant to be a seprate Singapore entity, distinct from OKCoin.cn. BitVc was a Hong Kong entity. So the reach of China may be going even outside their borders if the companies are owned by Chinese.
Finally, suspicions were answered today when OKCoin introduced strict new KYC/AML regulations:
Now, they appear to be more strict, and are overtly saying in Point 3 that they will be giving you trouble if your information is not legitimate or verifiable. This means that if you provide any information to them it would be subject to document verification.
This is a deal-breaker for many in bitcoin who value their anonymity and privacy.