Bitcoin Price Falls Further as BTC China Exchange Shuts Off Fiat Deposits
BTC China told CoinDesk it is expecting to reinstate deposits in RMB soon. Bobby Lee said he is now working with another third party payment company to try and reinstate RMB pricing, and is hoping to make an announcement on the Weibo account in the next few hours. This will now be the firm's third payment provider relationship inside a week. Lee brushed off worries that the new relationship could also be placed in jeopardy by PBOC's most recent move. "If this keeps happening, ten times later, will I keep going? I don't know. I can't predict the future. But for now we're going to try one....
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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.
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....
The story of BTC China has been an interesting one. This exchange went from nobody's talking point to the largest bitcoin exchange in the People's Republic of China in a matter of weeks. That is, until, they stopped accepting bank deposits. Many were convinced it was the end of BTC China's short, short history. Unlikely. The exchange has once again begun accepting bank deposits with its corporate bank account, according to a number of user reports and confirmation from the company's head honcho. "Previously, we judged doing this as not being viable, however, we have since changed our....
Hot on the heels of a weekend announcement that Chinese bitcoin exchange OKCoin was beginning USD-based trading comes the news that fellow Chinese exchange BTC China (which deals in both bitcoin and litecoin trading) is essentially following suit. BTC China took to social sharing website Reddit.com to make the announcement on Monday, telling the cryptocurrency world that they are the first Chinese exchange to support trading with three fiat currencies. The additions, the United States dollar (USD) and Hong Kong dollar (HKD), represent BTC China's intentions to expand their business outside....
At the Inside Bitcoins conference in Las Vegas, the CEO of the world's largest bitcoin exchange, BTC China, dished out some impressive figures with regard to his exchange's growth. "Trading volume has risen from $5 million to $50 million," said head honcho Bobby Lee. Malcom CasSelle from Timeline Labs said "[BTC China is] transacting 150,000 BTC per day." On the topic of when the recent news that China was warning financial institutions from toying with bitcoin, CasSelle said that "BTC China as a business will not have problems with deposits and withdrawals", referring to the very banks....