BTC China Once Again Accepting Bank Deposits
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....
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Prominent Chinese bitcoin exchange BTC China is now accepting customer deposits via its corporate bank account, plus offering small prizes to its customers. Bobby Lee, CEO of the exchange, confirmed that customers can now buy bitcoins from the exchange by depositing their funds directly into the company's account. "Previously, we judged doing this as not being viable, however, we have since changed our stance. We looked again at the guidance issued in December and we think it's a reasonable for us to accept customer deposits via our corporate bank account," said Lee. He went on to say BTC....
Bank deposits are live at BTC China once again. Screenshot via /u/btc_trading. Although many people thought banks weren't allowed to work with Bitcoin exchanges as a result of the December 5th memo from the People's Bank of China, it seems that the Bitcoin community may have overreacted to what the PBOC was trying to say. Some individuals have been wondering if Huobi, a Bitcoin exchange in China, has been operating illegally over the past few weeks because they were allowing customers to making deposits and withdrawals through the CEO's personal bank account. Most people in the Chinese....
Chinese bitcoin exchange BTC China has stopped accepting RMB deposits to user accounts from a major bank, revealing the move in a post on its Weibo page. Management decided to proactively halt deposits from one of the country's largest banks, China Merchants Bank, after the bank posted on its public website that it would no longer allow its customers to engage in bitcoin-related transactions, and said essentially it would require all such businesses to close their accounts. Withdrawals to China Merchants Bank accounts and transactions with other banks remain unaffected, at least for the....
BTC China announced to its English-speaking users via Twitter today that it has suspended yuan (RMB) deposits from the Bank of China. In its second such announcement since 26th April the exchange said in a (since-removed) tweet: Dear users, Due to regulations, we have suspended CNY deposits from Bank of China. For further enquiries, pls email: [email protected]. - BTC China (@btcchina) May 6, 2014. Chinese exchanges have suffered major setbacks recently after banks finally responded to repeated directives from the People's Bank of China (PBOC) - China's central bank - and shuttered all....
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....