China's Bitcoin Exchanges Survived the Crackdown and Did Battle in the Aftermath
Leon Li, CEO of China's leading bitcoin exchange Huobi, recently recalled how China's central bank ban sent shockwaves through the bitcoin world at a meet-up in Garage Café, Beijing. Addressing an audience of around 300 people, Li (also known in China as Li Lin) recounted how his site's trading volume spiked so rapidly on the night of 16th December that the visiting traffic easily maxed out the exchange's servers. Even though Li and his colleagues pulled two all-nighters to process the large amount of requests for cash withdrawals, rumours abounded that Li was a scammer who had already run....
Related News
The Kin Foundation says both itself and the Kin token have survived the recently resolved court battle with the U.S. SEC over a 2017 ICO.
Several U.S. lawmakers see China’s authoritarian crackdown on cryptocurrency, including bitcoin, as “a perfect opportunity for American leadership on cryptocurrency.” One senator noted that it is “a reminder of our huge structural advantage over China.” US Lawmakers Comment on China’s Cryptocurrency Crackdown Following the latest news of China’s crackdown on cryptocurrency, several U.S. lawmakers have shared their views on the situation. Senator Pat Toomey from Pennsylvania said: China’s authoritarian crackdown on crypto, including....
Several bitcoin exchanges in China have - as of today - halted trading fees in what could be called an epic battle for bitcoin volume. The exchanges include the ever-so-popular BTC China, OkCoin, BTCKan, and BtcTrade. It's all the more reason for the Chinese to get involved with the market - especially since developing an account-funding workaround by offering cash-for-vouchers (BTC China) in light of recently events that have money transmitters in China staying far, far away from bitcoin exchanges. Will it be the start of a new bubble? It's unclear, but we're in for an exciting ride in....
Fewer new bitcoin may be hitting the market because miners in China can't sell their bitcoins due to a crackdown by their government.
In recent times, China has made moves to halt all forms of Bitcoin mining in its vicinity. According to the government, the operation is consuming more energy than necessary. There have been concerns on how the crackdown will affect crypto prices, given that other countries also picked up the trend. China’s action led to a […]