As Exchanges Pause Withdrawals, Chinese Bitcoin Investors Switch to P2P Trading
The trading vacuum created by the stringent measures and close scrutiny by the People Bank of China’s (PBoC) upon the country’s bitcoin exchanges has led to traders flocking to alternative platforms. According to Coin.Dance, bitcoin trading volumes on prominent peer-to-peer (P2P) exchange platform LocalBitcoins reached an all-time high during the past week. The same week that saw two of the biggest Chinese bitcoin exchanges., OkCoin and Huobi, freeze withdrawals for up to a month. Other smaller exchanges have since followed, with the likes ofYunbi, BTC100 and BTCTrade strengthening....
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Two Chinese Bitcoin exchanges, BTC China and OKCoin, have recently announced new international trading features. Earlier today, in a selfpost to Reddit, BTC China revealed their newest features: Withdrawals and deposits in both USD and HKD. Just a few days ago, fellow Chinese Bitcoin exchange, OKCoin, also announced the launch of English-language service in the form of a new website and USD deposits and withdrawals. Bitcoiners around the world will now have two new options for their Bitcoin trading. It seems that Chinese Bitcoin exchanges are now comfortable enough in their position within....
Major Chinese exchange BTCChina has announced the suspension of bitcoin and litecoin withdrawals. In effect, all of China’s ‘big 3’ bitcoin exchanges have now enforced a month-long suspension of cryptocurrency withdrawals. The suspension will last until March 15th as the exchange underlines the move as a compliance measure after the central bank’s crackdown against bitcoin exchanges in the country continues. In an announcement on its homepage, the bitcoin exchange underlines the same reasons offered by the two other major exchanges in OkCoin and Huobi, both of whom suspended withdrawals a....
A senior Chinese central bank official who leads the department investigating bitcoin exchanges has revealed telling insights into authorities’ current stance on the bitcoin industry in China. Since the turn of the year, the People’s Bank of China (PBOC) has taken a notable interest in the local bitcoin industry. The bank’s officials have spoken to representatives from the big Chinese exchanges, conducted ‘on-site inspections’ of these exchanges and have wielded their authority to force the industry into making a handful of notable changes. Putting an end to zero-fee trading and margin....
The investors affected by Zipmex's withdrawals' pause can submit information about their losses via an online forum on the Thai SEC’s official website. In the aftermath of the Thai cryptocurrency exchange Zipmex stopping withdrawals last week, local financial regulators are stepping in to look into potential losses by investors.Thailand’s Securities and Exchange Commission (SEC) is taking action to collect all necessary information from investors on how they have been affected by issues on Zipmex.The regulator officially announced on July 25 that Zipmex customers can submit information via....
What exactly is bitcoin’s price? $1,174 as Coinbase is currently reporting, $1,211 as Bitfinex is saying or $1,028 as the Chinese exchanges are claiming? Normally, the arbitrage opportunity created gives us an answer within a day or two, but in this case, there may not be such easy answer as, although free money is up for grabs – some $40 per coin between Bifinex and Coinbase, while there’s a massive $200 opportunity between western and Chinese exchanges – no one is taking it. That suggests money can’t quite move. For Chinese exchanges, we know PBoC has forced them to halt withdrawals,....