BTC China halts Chinese RMB deposits
As a result of the recent PBOC rebuking remarks about banks still funding BTC China, the Chinese Bitcoin exchange company has halted RMB Deposits. The PBOC clarified its position on Bitcoin a few days ago and explained its stance, “The current level of services that banks and third-party payment processors provide counts as directly providing services to Bitcoin related companies. Online stores and public marketplaces that sell or trade ‘deposit codes’ from Bitcoin exchanges counts as indirectly providing services to Bitcoin related companies.”. The PBOC has said that these types of....
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BTC China announced to its English-speaking users via Twitter today that it has suspended yuan (RMB) deposits from the Bank of China. In its second such announcement since 26th April the exchange said in a (since-removed) tweet: Dear users, Due to regulations, we have suspended CNY deposits from Bank of China. For further enquiries, pls email: [email protected]. - BTC China (@btcchina) May 6, 2014. Chinese exchanges have suffered major setbacks recently after banks finally responded to repeated directives from the People's Bank of China (PBOC) - China's central bank - and shuttered all....
Read the original Chinese article on btc38 and btckan, a prominent Chinese Bitcoin exchange and website, respectively. BTC China's CEO Bobby Lee has introduced a new method for Bitcoiners in China to "recharge" their RMB balances on Chinese Bitcoin Exchanges: BTC China vouchers. Within a week, Chinese Bitcoin Exchanges led by BTC China, have found a solution for getting RMB deposits into Chinese Bitcoin Exchanges in compliance with ever-changing interpretations of Chinese law. Alternatively, Huobi's CEO has been using his personal bank account to provide RMB liquidity for all of his....
BTC China has announced the launch of USD and HKD deposits and withdrawals, joining OKCoin in an effort to extend services to the international community. Launching USD and HKD deposits and withdrawals, BTC China is now the first Chinese exchange to support three fiat currencies. The launch began after an invite-only period. During this trial stage, BTC China collected several million USD worth of deposits. This service will be processed via its registered Hong Kong affiliate.
Chinese bitcoin exchange BTC China has stopped accepting RMB deposits to user accounts from a major bank, revealing the move in a post on its Weibo page. Management decided to proactively halt deposits from one of the country's largest banks, China Merchants Bank, after the bank posted on its public website that it would no longer allow its customers to engage in bitcoin-related transactions, and said essentially it would require all such businesses to close their accounts. Withdrawals to China Merchants Bank accounts and transactions with other banks remain unaffected, at least for the....
Yesterday, Caixin reported that the PBOC, led by the Payment and Clearing Organization of China, has been having meetings and interviews with commercial banks, third party payment processors, and Bitcoin exchanges within China. PBOC officials made it very clear that they wished to completely cut off the funding line of Chinese RMB into Bitcoin trading platforms around the country. The renewed interest in Bitcoin by the PBOC has led to funding shuffles from every Chinese Bitcoin exchange. Cryptocurrency exchange rates across the board have suffered since the first rumors of renewed the....