China’s Oldest Exchange Exits Bitcoin Business Amidst Regulatory Pressures
BTCC, ostensibly the first cryptocurrency exchange established in China, exited the bitcoin trading business last week. According to statements, this was the result of the continued regulatory pressure Beijing is exerting on cryptocurrency businesses. The company will now transition to blockchain-related endeavors. BTCC Closes Its Exchange Business BTCC, the company that once ran the most prolific exchange in Asia, announced it has exited the cryptocurrency business. The company said it had sold its shares in the Singapore exchange ZG.com in May 2020. Most of the cryptocurrency exchanges....
Related News
One of China’s oldest crypto exhcanges has shut down its Bitcoin business as crackdowns continue in the nation. BTCChina Exits Bitcoin Business Huang Xiaoyu and Yang Linke founded BTCChina back in 2011. According to a report by South China Morning post, the platform has now completely closed its Bitcoin businesses. BTCChina also had a stake […]
BTCChina has reportedly sold its stake in the Singapore-registered Bitcoin exchange ZG.com. BTCChina, the operator of China’s oldest Bitcoin (BTC) exchange, is no longer in the crypto business, according to some reports.The company sold its stake in the Singapore-registered Bitcoin exchange ZG.com to an unidentified foundation in Dubai, Chinese news agency The 21st Century Business Herald recently reported.According to the report, ZG.com is a completely independent crypto exchange business with registrations in the United States, Singapore, Estonia, Seychelles and other countries. BTCChina....
China has the world’s largest market for digital shopping, mobile payments and Internet-enabled financial services. Close to 400 mln people in China conduct most of their payments using their smartphones. China’s overall business in information technology is a market of well above $300 bln, and it is estimated that more than 700 mln Chinese have access to the Internet. So any law impacting the online space - cybersecurity included - will make ripples in the way China does business. That’s why its new cybersecurity law - due to take effect in June of next year - is particularly alarming. It....
The platform will close all its over-the-counter (OTC) trading services because of the risks related to uncertainties from China’s regulatory policies/
The crypto market remains a hotbed of activity amidst regulatory uncertainties and evolving market dynamics. Despite recent fluctuations and the complex regulatory landscape, North America continues to hold its ground as a dominant player in the global digital currency market, albeit with some nuanced changes. Amidst the seemingly turbulent atmosphere of regulatory uncertainties and oscillating […]