Chinese Exchanges Announce End to Trading

12150169 - frustrated asian businessman sitting on the street


BTC China has announced that it will no longer provide a platform for digital currency trading, effective September 30, 2017, and has already moved to halt new account registrations. The news comes as statements from unnamed official sources indicate that Chinese regulators have started to deliver shutdown directives to the country’s cryptocurrency exchanges.

Another Chinese exchange, ViaBTC, has also announced that it will be shutting down trading activity. Like BTTC, that exchange claimed that its decision was motivated by the government’s regulatory actions on ICOs earlier this month. The Yunbi exchange issued a similar announcement, declaring that trading on its platform will end on September 20.

Huobi and OKCoin reportedly met with regulators on Friday, before announcing that they too will be ending trades for their local customers by the end of October. New customer registrations are no longer being accepted at either exchange, effective immediately.

Despite the move to end trading, OKCoin, and Huobi have indicated that they plan to continue operations and will provide other cryptocurrency asset services for their customers. Meanwhile, BTCC has reminded its users that the company has other businesses that are not affected by the shutdown, including a global exchange and its own mining pool.

BTCC tweet 0915

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Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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