Crypto News: Bitcoin Exchange BTCC to Halt Trading as Regulatory Storm Brews in China

It seems the circulating stories of Chinese bitcoin exchanges having to shut down has turned out to be true. On September 14, the exchange BTCC announced it would be suspending all trading on Saturday, September 30.

The exchange is the first major trading platform in the region to announce this decision. Following the exchange’s statement, the price of bitcoin has dropped significantly to a low of $3580 on Thursday morning.  

“After carefully considering the ‘Seven Regulatory Bodies’ announcement of preventing risks associated with token fundraising, BTCC has decided to immediately stop accepting new account registrations on the BTCC exchange,” explains CEO Bobby Lee’s translation of the announcement.

"[BTCC] will stop all trading on the exchange on Saturday September 30th. We apologize for the inconvenience. Please note that BTCC’s pool is not affected; customers will still be able to use our mining pool services."

Full story at http://bit.ly/2jufSOe

Source: Bitcoin News

 

 

 

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