BTCC Opens Up On THAT PBOC Visit
BTCC clarified that all operations at BTCC are normal and they continue to actively work with regulators to ensure that they remain compliant. BTCC opened up about the visit by a group of regulators consisting of the Shanghai branch of the People’s Bank of China, the Shanghai Financial Affairs office, and other related government agencies to its offices on January 11th, 2017. BTCC clarified that all operations at BTCC are normal and they continue to actively work with regulators to ensure that they remain compliant. The visit was a follow up on prior discussions and shared details about....
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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, the leading Chinese Bitcoin exchange platform cooperates with PBOC officials as they wait for yet to be published inspection report. The Bitcoin market in China is currently faced with uncertainties. Since the recent price drop, the digital currency platforms operating in the country have come under the scrutiny of the People’s Bank of China (PBOC). During the recent inspection of Chinese cryptocurrency exchanges, PBOC reportedly found few “hidden risks” in their existing practices. As the central bank continues to contemplate further action, Huobi, OKCoin and BTCC have made few....
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....
China-based bitcoin exchange BTCC has publicly commented on statements issued by the country’s central bank. The People’s Bank of China (PBoC) released twin statements this morning, outlining that it had met this week with representatives from BTCC, as well as Huobi and OKCoin – exchanges which host the majority of global bitcoin trading today – and warned them about remaining in compliance with state laws and regulations. The digital currency’s price also fell below the $900 mark amid the news. BTCC said that its representatives “work closely” with officials from the PBoC “to ensure that....
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....