China’s three biggest bitcoin exchanges will soon halt local trading

China’s three biggest bitcoin exchanges will soon halt local trading

7 years ago
Anonymous $wKBR2uNMvM

https://qz.com/1078652/bitcoins-btc-price-is-under-pressure-as-chinas-three-biggest-exchanges-btcc-okcoin-and-huobi-will-soon-halt-local-trading/

China’s two largest remaining bitcoin exchanges, Huobi and OKCoin, announced today they would halt trading services for local customers by Oct 31. This followed a similar notice yesterday from BTCC, another major exchange, about a halt in local trading by the end of this month. The latest service closures will effectively put an end to the yuan-bitcoin exchange markets, once the world’s largest driver of bitcoin trading volume.

Huobi and OKCoin said they would stop taking new customers and yuan deposits immediately. Both noted in their statements (Huobi’s here and OKCoin’s here, both in Chinese) that they would continue to provide “crypto-asset services.” Both also said they received regulators’ “notice and guidance” this afternoon.