Bitcoin’s Price Unfazed as China’s Exchanges Add Fees
Bitcoin prices have remained largely unchanged so far today, fluctuating around the $900 mark despite the adoption of trading fees by three of the ecosystem's largest exchanges. As previously announced, BTCC, Huobi and OKCoin implemented 0.2% trading fees for both buy and sell trades today, a policy change that, coupled with their recent decision to end margin trading at the request of China's central bank, seems to be making for a different market. Market data suggests that all three bitcoin exchanges have seen a drop in volume after instituting the new pricing policy. The fees, they say,....
Related News
Starting tomorrow, China’s largest bitcoin exchanges will begin charging trading fees at a flat 0.2 percent for every transaction. The changes stemming from the People’s Bank of China’s involvement in bitcoin trading activity between China’s biggest bitcoin exchanges continue. Within days of BTCC, Huobi and OKCoin formally announcing the halt of margin or leveraged trading for Chinese users, the three exchanges will now begin charging traders a flat fee of 0.2% per transaction. An announcement from BTCChina this Sunday read that charging fees for bitcoin and litecoin trading will commence....
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....
As one of China’s “big three” bitcoin exchanges, Huobi (huobi.com) has been responsible for processing a significant chunk of trading volume, particularly as of late. With over 90% of BTC trading conducted with Chinese Yuan (CNY), the Beijing-based exchange is undoubtedly an important player in the Bitcoin economy. Bitcoin.com spoke with Huobi CEO, Leon....
Ban or no ban, China’s crypto obsession is as strong as ever. Before the government stomped into the cryptocurrency industry, China was arguably the world’s leader. Its exchanges were the biggest and, at its heights, they controlled 70% of bitcoin’s hashrate. The ban was supposed to kill all that, but the roots were too strong. […]
In a surprise turn of events, the two largest Chinese Bitcoin exchanges have suspended Bitcoin and Litecoin withdrawals for one month. The news follows China’s central bank inspections at nine smaller Bitcoin exchanges this week. China’s Central Bank Continues to Shake Up the Bitcoin Market. Over the past few weeks, Bitcoin spectators have been closely....