Following the exciting news out of China that points to a possible change in attitude by the government towards Bitcoin, CoinTelegraph caught up with one of China’s biggest bitcoin exchanges, Huobi, to get a better understanding of Bitcoin’s prospects in the country.
The Beijing-based exchange recently saw record BTC trading volumes among all exchanges. It should be noted, however, that trading CNY-BTC on Huobi is free, but fees are applied for USD-BTC trades making it similar to OkCoin, which is frequently associated with commission-free trading.
“The Chinese government should study how digital currency is regulated in the US and follow the steps to establish our own regulation system.”
[Note: the following answers have been provided by several Huobi team members including CEO Leon Li.]
CoinTelegraph: How would you interpret the significance of the People’s Daily article posted on the CAC website for our Western readers? Do you agree that we are in a “post-Bitcoin era”?
Huobi: Recent bitcoin regulatory activities in the US have set an example for other countries including China. We agree that this “post-Bitcoin era” will inevitably lead to mainstream development in China.
Shifting from volatility