BTCC Reports High Bitcoin Transaction Volumes as China’s Economic Growth Hits 25-Year Low
BTCC, one of the world’s largest bitcoin exchanges by market share, has recently reported unusually high transaction volume following the recent slump in values of global stock and commodities. “The trading volumes we saw over the past few days are not the highest we have seen since 2011, but we expect greater trading volumes in the future as bitcoin....
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The price of Bitcoin in China went past $990 this afternoon, as Chinese investors continued to push high volumes in local exchanges. Most investors at this time of the year are hoping to evade capital controls and circumnavigate cash restrictions, as noted by Holger Zschaepitz, financial author and editor of Welt. Further yuan devaluation and tightening of capital controls. Analysts revealed that Bitcoin hit record high volumes this past week, which ultimately led to its price rally and pushed the price of Bitcoin to increase by over 20 percent. Zero Hedge suggested that Chinese investors....
China’s big three exchanges announced they would end zero fee trades and margin trading Tuesday due to increased scrutiny by the People’s Bank of China (PBOC), leading to a collapse in Chinese bitcoin trading volumes. The changes come on the heels of Beijing’s implementation of new capital controls in 2016. In late January, China’s big three bitcoin....
BTCC, the Chinese bitcoin conglomerate, has launched a bitcoin service that prioritizes bitcoin transaction confirmations for its customers, the company announced on its website. The BlockPriority service expedites confirmations of bitcoin transactions sent through BTCC services even when the bitcoin network is stressed or facing spam attacks. BlockPriority is available only to BTCC users, said Samson Mow, the company's chief operating officer. BTTC automatically provides the service to its customers with no additional charge. The service works by submitting bitcoin transactions sent to or....
Following the much-publicized meetings between China’s central bank and the country’s major bitcoin exchanges, the head of BTCC has claimed that it’ll be a few years yet before the bitcoin is regulated in the country. The opinion comes alongside the notable revelation that the People’s Bank of China – the central bank – has not explicitly demanded that BTCC check capital outflows from the country. Bobby Lee, the chief executive of BTCC made the revelations in an interview with Reuters. In response to a question if BTCC had received any direct pressure by the PBOC to curb the exit of....
Bitcoin price has not taken a hit or is not likely to experience further shake up as BTCC announced it is suspending aspects of transactions including the withdrawal of digital currencies traded on its platform. It is joining two other top Bitcoin exchanges - OKCoin and Huobi - which had on Thursday, Feb. 9 announced the suspension of their trading activities. In their separate announcements, the two exchanges cite that the suspension which is as a result of their upgrading of an anti-money laundering AML system in accordance with China’s laws and regulations could last for a month.....