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Mainland Chinese exchange BTCChina to cease operations and focus internationally

In response to the latest wave of regulatory pressure from Chinese authoritarians, BTCChina has confirmed it will stop trading at the end of the month, on September 30th.

Just recently, the company announced DAX.BTCC, a crypto to crypto only exchange, this could be where the team focusses its efforts in the coming months.

Don’t forget that the company also runs a bulk of its bitcoin and cryptocurrency trading business out of Hong Kong with BTCC.com. Who could blame them for leaving the unpredictable Chinese government environment behind?

BTCChina left its mainland Chinese users the following message:

According to the September 4th issue of the “People’s Bank of China Central Office of the Ministry of Industry and Information Technology Ministry of Industry and Commerce, China Banking Regulatory Commission, China Securities Regulatory Commission on the prevention and treatment of the risk of issuing currency,” the spirit of the document, adhering to the prevention of investment risks, the maximum protection of users the principle of interest, the BTCChina Chinese team through careful discussion, is to make the following decision:

1. Will stop the registration of new users;

2. September 30, 2017, the digital asset trading platform will stop all trading business.

The company’s mining pool and other business will not be affected, and continue normal operation.


Source: CryptoNinjas.net

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