Another of China’s “big three” bitcoin exchanges has seemingly passed a proof-of-reserve audit with flying colors. BTC China announced the results of their audit on Monday, although translations of the full text have only recently become available in English. The audit was verified by a panel of five well-known Chinese bitcoin advocates, who checked BTC […]
Major Chinese bitcoin and litecoin exchange BTC China announced today that they have added support for U.S. dollars (USD) and Hong Kong dollars (HKD) to their trading platform. The new system, currently undergoing an invite-only beta test, allows for deposits and withdrawals in both currencies under “international accounts,” while domestic accounts will be limited to […]
BTC China CEO Bobby Lee has been at the front lines of the People’s Bank of China’s (PBoC) efforts to suppress bitcoin right from the start. Through it all, he’s managed to keep his exchange open even as his competition has scaled back their operations, changed their business models or closed completely under PBoC pressure. […]
Under increasing pressure from the People’s Bank of China, two of the “big five” Chinese bitcoin exchanges have announced plans to alter their business models. Although the PBoC issued new rules in December dramatically limiting access to the country’s banking system for bitcoin-based business, those rules have only been meaningfully enforced in recent weeks. Several […]
Earlier today, China’s five largest bitcoin exchanges released a joint statement on the Twitter-like social-networking site Weibo. The statement acts as both a mea culpa for the ongoing problems in with bitcoin in China, as well as the first public announcement of a move towards self-regulation for the exchanges. The five participating exchanges are OKCoin, […]
After nearly six months of quiet pressure, the long-rumored People’s Bank of China “bitcoin ban” is finally materializing. Earlier today, major Chinese exchange BTC China announced on its Twitter account that it had suspended yuan (RMB) deposits from the Bank of China. This was the second such notice from BTC China, the first being posted […]
Following a post on the China Merchants Bank website late last week, Chinese bitcoin exchange BTC China announced that they are halting all deposits in yuan. In a post on BTC China’s Weibo social networking account, the exchange claimed the move was made “out of consideration for user security and stabilization operations.” It’s not clear […]
Last week, a report on China’s Caixin financial news service sent wave of panic through the Chinese bitcoin community. The report, which is still unconfirmed by any official source, claimed that the People’s Bank of China would be introducing harsh new banking rules for bitcoin-related businesses on April 15. Not surprisingly, rumors and speculation have […]
Last week, Chinese business newspaper Caixin reported that the People’s Bank of China had plans to ban all banks and third-party financial systems from working with the country’s 15 bitcoin exchanges. The rumor sent bitcoin prices into a steep plunge, dropping to around $450. Today, those rumors have a bit more fuel. Chinese exchange BTC38 […]
Bitcoin prices have fallen a little over 2.5% (about $12) in the last 24 hours, seemingly due to a false report that Chinese authorities were on the verge of blocking all bitcoin transactions starting April 15. The claim, published on China’s equivalent of Twitter, Sina Weibo, has since been retracted. According to a translation published […]