China tightens curbs on bitcoin trade

by
December 18, 2013

BEIJING – A Chinese bitcoin exchange platform announced on Wednesday that it had stopped taking Chinese yuan deposits, sending the price of the virtual currency down sharply as China broadened its crackdown on domestic bitcoin trading.

Shanghai-based BTC China, the world’s largest bitcoin exchange by volume, posted a notice about the new regulations on its website, two weeks after Beijing banned financial institutions from trading in bitcoin, due to the risks involved.

“Due to new government regulations, BTC China will temporarily suspend CNY deposits. BTC deposits/withdrawals and CNY withdrawals are not affected, and will continue to operate in the interim,” BTC China said in the notice.

The platform could no longer handle new deposits because its third-party payment provider had abruptly cut off service, said Chief Executive Bobby Lee.

“It was disconnected against our will,” said Lee, adding that BTC China had switched to the provider on Sunday as a precautionary measure.

?>

Keep the Fake News Media in check.

Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!

We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.
View our full privacy policy.

Facebook Auto Publish Powered By : XYZScripts.com
Google Analytics Alternative