2-3 Years Before Bitcoin Regulation in China, Says BTCC Chief
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....
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BTCC, one of the longest-running Bitcoin exchanges in China, celebrates its fifth anniversary. CoinTelegraph spoke with the company’s CEO Bobby Lee about their current projects and his vision of the company’s future. Leader in China Bitcoin Ecosystem. BTCC was originally founded in China in 2011. In a period of five years it has succeeded in occupying a leading role in every segment of the Bitcoin ecosystem. Let’s take a quick look at how the steel was tempered. In 2013, two years after being established, the company raised $5 million in Series A funding from Lightspeed China Partners and....
China is one of the major economies and a regional superpower in Asia. The vast country with the highest population in the world is also the country that tops the charts with the highest hashing power. The Chinese Bitcoin community is actively involved in Bitcoin mining operations and the Chinese mining pools are in control of the majority of overall Bitcoin mining. According to the latest data available on Blockchain.info, the top three Bitcoin mining pools are AntPool, F2Pool, and BTCC Pool. AntPool is a mining pool operated by the company known for AntMiner ASIC miners, BitMain while....
Bitcoin’s price fell by more than $100 in minutes around 9 A.M. London time as the People’s Bank of China announced they have opened an “inspection” on BTC China, Huobi and OKCoin, which in combination account for 90% of bitcoin trading volume. According to Reuters: “The probe of bitcoin exchanges, including BTCC, Huobi and OKCoin, was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing, the People’s Bank of China (PBOC) said. It did not say if any violations had been found.” Huobi has been criticized for going....
BTCC, one of China's 'Big Three' digital currency exchanges, has announced a new promotion that will see fees cut on US dollar-based bitcoin trades. Beginning 1st March and running through the month, BTCC says it will cease charging customers on both sides of trades on BTCC.com, its international exchange site. However, fees will remain in place at BTCChina.com, its domestic exchange offering. In statements, BTCC representative Tendai Musakwa said the promotion is a tactical move aimed to outflank competitors by focusing on the exchange's international reach. Musakwa said: "We're now....
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....