China’s OKCoin Publishes, Then Withdraws Bitcoin Exchange Fee Update
One of China's 'Big Three' bitcoin exchanges issued an update on its fee policies today, only to later remove the statement from its website. In a post on its China-based website, OKCoin indicated that it would alter its policies to a maker-taker model, one that would offer zero-fee trading to those who provide liquidity to the exchange. A 0.2% fee would still be charged on all other trades. Notably, the notice no longer appears on OKCoin's website. If enacted, the move would be the first since 23rd January that finds a major China-based exchange breaking from an informal commitment to....
Related News
OKCoin, one of China’s so-called ‘Big Three’ bitcoin exchanges, has published new guidelines to adhere to AML requirements by regulators and authorities. The announcement, published on its China-based and international websites, comes amid the ongoing withdrawal freeze of bitcoin and Litecoin enforced by Chinese exchanges due to regulatory pressure from the People’s Bank of China, the country’s central bank. The guidelines read nearly identical for Chinese and international users. Roughly translated, the Chinese announcement begins: Considering from the perspectives of national Anti-Money....
A Chinese court has awarded damages against China’s popular bitcoin exchange, OKCoin, after it was alleged that the company was aiding criminal money laundering and wasn’t properly registered. The court decision only affects OKCoin’s China-based bitcoin exchange, OKCoin.cn, and not its international exchange, OKCoin.com; however, it’s the first significant ruling by a court against a bitcoin exchange. OKCoin’s parent company is Lekuda. According to court documents, Huachen Commercial and Trading Co. Ltd., the defendant, claimed that an individual had defrauded it of 12 million Chinese yuan....
The past week in the cryptocurrency space has been interesting, to say the least. Since our last market update, many of the top digital assets including bitcoin have experienced a bearish downtrend. The significant dive had seen bitcoin hit a low of US$750 per BTC, but the price rebounded on January 12 with many of its altcoin peers following suit.....
OKCoin International Operations Manager Zane Tackett recently announced that he has resigned from the Bitcoin exchange due to misaligned opinions. "For the past year I've handled the majority of the community outreach for OKCoin and have interacted with this community as the OKCoin representative," he said in an informal post. "Unfortunately, due to a difference of opinions I have decided to resign from OKCoin." Tackett joined OKCoin in April 2014, a time when the Chinese exchange had just received funds around $US10 million and was planning to expand globally. He later became a prominent....
OKCoin, a cryptocurrency exchange that offers trades between Bitcoin (BTC), Litecoin (LTC), US Dollar (USD), and Chinese Yuan (CNY), has added margin trading to its iOS and Android apps. “In our continued efforts to build the world’s best retail and institutional blockchain asset exchange, OKCoin has added margin trading to its iOS and Android Apps. OKCoin.cn CNY users can trade on up to 5x margin while OKCoin.com USD users can trade on up to 3.3x margin. Thanks for your feedback and continued support of OKCoin. We hope you like it!” added OKCoin in a statement. OKCoin released the....