Huobi CEO Pushes for Bitcoin Regulation in China
The chief of one of the biggest Chinese Bitcoin exchanges has penned a journal seeking regulations for the digital currency sector. The article, written by Huobi's CEO Leon Li, has arrived in the wake of growing regulatory uncertainties in the Chinese Bitcoin market, which - ironically and reportedly - hosts more than 80% of the world's digital currency transactions already. This might be the first time when an industry's representative has stepped up to speak in favor of Bitcoin regulation, in spite of knowing the China's strict stand on the digital currency in past. Huobi is pushing....
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Do you wonder why the Bitcoin price suddenly have increased this weekend? Take a look at the graph below of the Huobi trading volume. They have an insane trading volume now with more than 200 Bitcoins being traded every minute. They beat both Mt. Gox, Bitstamp and BTC China. So why has Huobi surpassed BTC China in trading volume? It has been said that current exchanges in China have used their CEO's personal bank accounts to start it off. BTC China's CEO Bobby Lee has been able to put up corporate bank accounts because of the risk involving his own personal bank account.While Thus Li Lin,....
Bitcoin price has fully recovered since the temporary Bitcoin withdrawal suspension on Huobi and OKCoin traders, having increased from $980 to $1,123 within two weeks. On Jan. 18, Huobi and OKCoin were requested by the People’s Bank of China (PBoC) to overhaul their know your customer, hereinafter KYC, and anti-money laundering, hereinafter AML, regulation. Local publications including the Shanghai Observer reported that the PBoC told the two exchanges they were in violation of local regulations and failed to meet industry-wide standards. Three weeks after the PBoC made its initial request....
Rui Ma is an early-stage investor in technology companies with the global accelerator program and seed fund 500 Startups. Residing in Beijing, she is an active member of China's bitcoin community. Some bitcoiners might still remember when BTC China was the dominant bitcoin exchange in China. Well, those days are long gone. These days, newer exchanges Huobi and OKcoin regularly top the charts for trading volume. Monday, for example, their 24-hour volumes are at 106,942 and 126,973 respectively, third-place CHBTC is at 35,349, while BTC China lags far behind at 4,344. Huobi, in particular,....
Known as one of China's 'big three' exchanges, Beijing-based Huobi experienced a meteoric rise to the top tier of China's bitcoin industry last year, emerging as newcomer and growing to become a market leader with more than 100 employees. Since that early success, Huobi, like other China-based exchanges, has struggled to control its international perception. Huobi has had to fight off rumours it was faking trading volumes in a bid to attract users. Further, the future and stability of its business were called into question by China's central bank, which has moved broadly to discourage....
Top Crypto Exchange Huobi Global has said it will suspend all China-based user accounts later this year. The exchange said in an announcement on Sunday that it has discontinued account registration for new users in Mainland China. This event comes after China’s central bank intensifies its crackdown on crypto activities. Last week, China intensified a crackdown on cryptocurrencies. […]