One of China’s top three bitcoin exchanges has just announced they are to stop all trading by the 30th of September. BTCC publicly stated:

“After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange will stop all trading on 09/30. BTCC products, including BTCC Pool, are not affected by this change.”

This sudden decision is made after the exchange denied they were closing down on September 10th, telling trustnodes at the time:

“No, BTCChina Exchange is operating normally and has not received any new directives from Chinese regulators.”

That appears to have changed. The reason remains unclear at this stage. The September 4th notice concerns ICOs as far as we are aware.

There are rumors of a new notice which suggests China is to ban crypto exchanges. However, some clarification appears to be developing which suggests they will only require a more strict licensing regime, rather than closing them down.

But, in the transition process they might have to close. A step which BTCC has now taken. We await clarification from the rest of exchanges. As a developing story this will be updated.

Bitcoin’s recent price at btcc

Bitcoin’s price at BTCChina crashes down to $2,900.

ViaBTC does not confirm or deny whether they are to close their exchange. Tells us to follow their twitter or their “further announcements.”

“Regulators in Shanghai, the country’s financial center, gave verbal instructions to exchange operators to shut down, China Business News and 21st Century Economic Report said on their websites. They gave no other details.” So says the Washington Post.

 



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