Breaking News: BTC China To Resume Trading Fees of 0.3%, Market Manipulation Gets Harder
BTC China has reinstated trading fees in an attempt to combat market manipulation. BTC China has, after 3 successful months, has decided to resume trading fees. For a few weeks now, because of 0% trading fees, BTC China has consistently been the highest volume BTC exchange. Trading fees will be 0.3%, the announcement reads: Dear BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden....
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The world’s largest bitcoin market saw a steep fall in trading volumes on the day in which exchanges began charging trading fees at a flat 0.2 percent from midday (Beijing time). In a 1-hour trading period after bitcoin exchanges introduced trading fees, trading volume at BTC China fell over 80%. Huobi and OkCoin, the two other exchanges that were investigated and saw discussions held with the People’s Bank of China saw declines of over 90 percent and 80 percent respectively. The drop in trading volume can be attributed to the lack of automated bitcoin trading, previously making up for a....
Source: TheGenesisBlock.com. It was last one week ago that reports surfaced indicating that BTC China would be reinstating trading fees due to "turbulent" market conditions. The report indicated that the fees would resume effective immediately, and it seems to have not surprisingly been profitable. According to The Genesis Block, about 340,000 BTC has been transacted since the fees were reimposed at 0.3 percent. That gives us a rough estimate that BTC China's revenue in the past week has been somewhere in the neighborhood of whopping $1.25 million USD. Not bad for an exchange that's....
CHBTC has become the world’s largest bitcoin exchange when measured by volume in the aftermath of other China-based exchanges removing their no-fee trading policies. At this time, CHBTC has not implemented fees for trading the Chinese Yuan/bitcoin (CNY/XBT) pair. According to cnLedger, the exchange plans to implement trading fees at an as-of-yet undetermined time in the future. BTCC, Huobi, OKCoin and YUNBI Implement Trading Fees. Earlier this week, four of China’s largest bitcoin exchanges added trading fees to their platforms following reviews from regulators at the People’s Bank of....
Bitcoin prices have remained largely unchanged so far today, fluctuating around the $900 mark despite the adoption of trading fees by three of the ecosystem's largest exchanges. As previously announced, BTCC, Huobi and OKCoin implemented 0.2% trading fees for both buy and sell trades today, a policy change that, coupled with their recent decision to end margin trading at the request of China's central bank, seems to be making for a different market. Market data suggests that all three bitcoin exchanges have seen a drop in volume after instituting the new pricing policy. The fees, they say,....
BTC China has apparently ended a huge attraction point to their bitcoin exchange. The company is alerting customers that effective immediately, they are ending their 0% trading fee promotion. The bitcoin exchange - the world's largest - will be reinstating a trading fee of 0.3% due to what they describe to be a "recent turbulent bitcoin market". The message in full: Dear BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading....