Agricultural Bank Of China Notifies BtcTrade That They Need To Halt RMB "Recharges" By April 15th
The Agricultural Bank of China, one of the Big Four Chinese Banks, has begun notifying its Bitcoin Exchange clients of upcoming changes to policy. The other 3 “Big Four” banks in China are: The Industrial and Commercial Bank of China, China Construction Bank, and Bank of China. By market capitalization, the Industrial and Commercial Bank of China is the largest bank in the entire world, according to Relbanks 2013 statistics on largest banks in the world. The Agricultural Bank of China is the 6th largest bank in the world by the same measure, outstripping all American Banks besides Wells....
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Following the lead of two of the market's more prominent exchanges, at least six other China-based bitcoin exchanges have announced updates to withdrawal policies as part of a bid to tighten AML oversight. Announced today, BitBays, BTC100, BTCTrade, CHBTC, HaoBTC and Yunbi have all enacted changes to their withdrawal capabilities, a move that comes days after the exchanges were called to meet with the Beijing office of the People's Bank of China (PBoC), China's central bank. Notably, the policies issued differ from the more stringent halt of bitcoin and litecoin withdrawals imposed by....
Bitcoin prices crashed today as Chinese businesses began receiving official deposit shutdown notices from banks, confirming recent suspicions of an impending crackdown. Exchanges will stop account recharging via bank accounts between now and 15th April. Even though the news has been anticipated for over a week now, bitcoin prices sank under $403 from a high of $450.74 on the CoinDesk Bitcoin Price Index after companies began making public announcements on their sites. Exchange BTCTrade.com made an announcement just before lunchtime in China, followed shortly after by BTC100.org and Huobi.....
The Agricultural Bank of China (ABC), one of China’s “big four” banks, is embarking on a pilot program to enable the first digital yuan ATMs. The banking institution deployed the first machines in selected branches in Shenzhen. ATMs Will Work With a Smartphone App According to SZ News, the program is part of the ongoing second digital yuan trial, consisting of a giveaway of 200 yuan ($31) to 100,000 residents. The ATMs enable the possibility to deposit and withdrawal the digital yuan via a smartphone app. The pilot program’s mobile app allows customers to convert....
A false report published on a financial news feed run by Chinese microblogging site Sina Weibo was responsible for the sharp decline in bitcoin prices across China's biggest exchanges today (21st March). At 10:22 am GMT, Sina's financial live feed issued a now-retracted news report indicating that China's central bank, the People's Bank of China (PBOC), would move to halt all bitcoin transactions in the country effective 15th April. If true, the news would have interrupted a period of improved relations between the burgeoning bitcoin ecosystem and the nation's lawmakers, but coincided with....
The price of bitcoin continued its upward trend on the CoinDesk USD Bitcoin Price Index (BPI) today, rising roughly 9% to top $500. As of press time, the price had increased roughly $43 over the course of the day, climbing from a low of $452.17 to a high of $514.72. The recent recovery, sparked by comments from People's Bank of China (PBOC) governor Zhou Xiaochuan, continued as the 15th April deadline allegedly imposed by the central bank came and went without any additional account closures or adverse actions taken against the major exchanges. In recent weeks, a number of Chinese....