Blog Archives

Chinese bitcoin exchanges consider leaving China

Posted on 12th April, 2014

Chinese bitcoin exchanges have had a rough month. They’ve seen the price plummet, several rounds of sell-off panic and dealt with unprecedented levels of insecurity for their own financial accounts. Just a few days ago, many of the major Chinese exchanges were informed by their banking partners that most of their current deposit services and […]

Bitcoin price falls under $400 following more China news

Posted on 10th April, 2014

Prices fell to below $400 today as Chinese bitcoin exchanges BTCTrade.com, BTC100.org and Huobi announced official notification of deposit shutdowns from their banks. The exchanges will be halting customer deposits from bank accounts and closing accounts between how and April 15. Although their has still been no official confirmation of a change in bitcoin policy […]

Chinese exchange Bter reinstates wire-transfer deposits

Posted on 8th April, 2014

For the last several weeks, the bitcoin-related news coming from China has been filled with gloom and doom. With the new People’s Bank of China policies still unconfirmed, many Chinese exchanges have taken preemptive steps to ensure compliance before the rumored April 15 changes. One exchange, however, is simply returning to basics. Last night, Bter […]

Chinese exchange BTC38 halts fiat transactions in anticipation of bitcoin ban

Posted on 2nd April, 2014

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 […]

Report: People’s Bank of China deputy director says bitcoin is a commodity

Posted on 29th March, 2014

In a brief post on Asian market bitcoin blog Bit-Sky, a deputy director of the People’s Bank of China addressed his institution’s view of virtual currency in a speech at the 2014 Spring Summit of China Internet Finance Conference. According to Bit-Sky, the deputy director said: Now, the currency is fiat currency, sovereign currency. Is […]

Report: False rumor of Chinese bitcoin ban drives price drop

Posted on 21st March, 2014

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 […]