China's Central Bank Meets With More Bitcoin Exchanges
A number of smaller China-based bitcoin exchanges met with the People’s Bank of China in a closed-door setting today. According to sources familiar with the matter, in attendance were exchanges that were previously absent from talks held earlier in the month, including Beijing-based Yunbi and BTC Trade. Speaking with CoinDesk, BTC Trade confirmed its participation, while Yunbi would neither confirm or deny the report. Both declined to provide additional details about the discussion. According to Bloomberg, a source said that money laundering was on the agenda, as it was in prior talks.....
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BTC China announced to its English-speaking users via Twitter today that it has suspended yuan (RMB) deposits from the Bank of China. In its second such announcement since 26th April the exchange said in a (since-removed) tweet: Dear users, Due to regulations, we have suspended CNY deposits from Bank of China. For further enquiries, pls email: [email protected]. - BTC China (@btcchina) May 6, 2014. Chinese exchanges have suffered major setbacks recently after banks finally responded to repeated directives from the People's Bank of China (PBOC) - China's central bank - and shuttered all....
China's major bitcoin exchanges halted, or otherwise updated, their lending-based bitcoin trading services today. First reported by China-based bitcoin traders and market observers this morning, BTCC, Huobi and OKCoin appear to have quietly adjusted their terms, though only BTCC had moved to issue a formal comment confirming the changes. Bobby Lee, CEO of BTCC, acknowledged that changes to the exchange's service were being made in response to interactions with the People's Bank of China, the country’s central bank, though he stopped short of saying that the service had been terminated or....
Yi Gang, the deputy governor of the People's Bank of China, this week mentioned bitcoin in comments that have sparked optimism in the country's bitcoin business community. Speaking in Chinese at an economic forum, Mr Yi made statements to the effect that it would be impossible for China's central bank to recognize bitcoin as a legal, legitimate financial instrument "in the near future". But perhaps more significantly, he added that people should be free to buy and sell bitcoins on exchanges with no interference from the central bank, and that he would personally look at the digital....
The People's Bank of China issued a new statement today in which it laid out in writing the warning it issued to nine domestic startups in a meeting yesterday. The post, issued via the central bank’s website, confirmed rumors that circulated yesterday suggesting that the new meetings were broader than ones held earlier in the month, including a number of lesser-known bitcoin and cryptocurrency exchanges. Perhaps most notably, the PBOC indicated it has issued specific directives to the businesses, reiterating that the platforms must enforce anti-money laundering (AML) and foreign exchange....
A senior Chinese central bank official who leads the department investigating bitcoin exchanges has revealed telling insights into authorities’ current stance on the bitcoin industry in China. Since the turn of the year, the People’s Bank of China (PBOC) has taken a notable interest in the local bitcoin industry. The bank’s officials have spoken to representatives from the big Chinese exchanges, conducted ‘on-site inspections’ of these exchanges and have wielded their authority to force the industry into making a handful of notable changes. Putting an end to zero-fee trading and margin....