Then follow us on Google News!
SHANGHAI The head of major Chinese bitcoin exchange BTCC said on Thursday the platform was operating normally and that it had stopped offering margin loans last week alongside its competitors Huobi and OkCoin.
Chief Executive Bobby Lee also told Reuters that the company had yet to receive any official document from China’s central bank, amid state media reports that the People’s Bank of China (PBOC) had found “hidden risks” in the BTCC exchange after a probe.
The central bank launched spot checks on BTCC, Huobi and OkCoin on Jan. 11 to look into a range of possible rule violations, amid a step up in government efforts to stem capital outflows and relieve pressure on the yuan currency.
While the yuan lost 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.
Lee also said that the three exchanges had discussed introducing trading fees although they had yet to reach a conclusion. Bitcoin normally trades at a premium in China as the lack of trading fees encourages volumes and boosts demand.
(Reporting by Brenda Goh; Editing by Kim Coghill)
TheBitcoinNews.com – Bitcoin News source since 2012
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise