BTC China Issues Fee Change Notice
The folks over at BTC China have, as of January 3rd, implemented a change in fees, according to a notice published on Friday. Effective immediately, BTC China says the following will change: CNY Withdrawal fee is reduced from 1.0% to 0.5%. BTC China will use the Maker-Taker fee/rebate model for trading: Limit orders not executed immediately will be rewarded a 0.3% rebate on execution. Orders executed immediately will continue to incur a 0.3% transaction fee. The changes, of course, come as the recent drama has unfolded with the Chinese government throwing down the banhammer - preventing....
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Shanghai-based exchange BTC China has published a statement reassuring Chinese investors that its operations will resume as normal despite looming regulatory uncertainty. The People's Bank of China (PBOC) is widely expected to issue a public notice later this month, which would effectively put an end to bitcoin-related money transfers in China, including yuan deposits. The rumoured notice is expected to go official on 15th April. However, since nothing is official yet, there is plenty of misinformation floating around. In turn, the spread of PBOC-related fear, uncertainty and doubt has....
Just when you thought things couldn't get any worse in China, it does. The world's largest exchange (which will soon change) has stopped accepting fiat deposits, which prevents any money from coming into the exchange. "This morning, we got notice from our third-party payment provider YeePay that it would cut off deposits for us at 12 noon and sure enough, we got cut off today," said Bobby Lee, CEO of the operation. "We all know the reason - it's as plain as daylight - they cut us off because of what happened at the meeting on Monday," he continued, referring to China's top payment....
As I mentioned yesterday, OKCoin and BTC China both announced “The First Bitcoin ATM in China” yesterday. BTC China Bobby Lee wanted to show the world that 4/15/14 is just another day for Bitcoiners. There isn’t a magical guillotine from the PBOC that will be dropped today, as rumors of a private PBOC notice circulated only to banks and 3rd party payment processors requiring stricter adherence to the 12/5/13 notice finally peter out. Bobby Lee took to CNBC for an exclusive interview to highlight to somewhat ignorant mainstream media that Bitcoin “defies talk of China crackdown.” At....
The last few weeks of March were rife with misinformation out of China regarding a mysterious notice from the PBOC supposedly sent to regional banks and 3rd party payment processors. Original news of the notice was misinterpreted and leaked on 3/21/14 leading many to dismiss all news out of China in subsequent days. On 3/27/14, Chinese reporters from Caixin claimed to have seen the PBOC document and published a synopsis of its contents. The title of the supposed notice is this: 关于进一步加强比特币风险防范工作的通知, or the Notice on Further Strengthening Bitcoin Risk Prevention Measures. In the notice, the....
A not-so-known bitcoin exchange by the name of GoXBTC (launched in May of 2013) based in mainland China has announced they're ceasing operations as of January 18th. The announcement was made on the website's homepage, and cites both "operating costs" and "risk[s] of legal uncertainty" as the primary issues behind the closure. Users at the exchange are being urged to withdraw money - albeit it is quite short notice. GoXBTC says there is a possibility of the service re-opening, but as of current, the legal area surrounding bitcoin in the People's Republic of China is nothing short of....