Crypto News: China’s Regulatory Crackdown Forces More Bitcoin Exchange Closures

According to reports, all exchanges that deal with cryptocurrencies in China must shut down operations to stay compliant with the country’s regulators. Following these rumors early this morning, the exchange Viabtc announced it would also be closing operations on September 30. The price of bitcoin is down 38 percent since the two Chinese exchanges made their announcements. At press time BTC is struggling to stay above the $3K price range. 

“On September 4th, China’s central bank together with six other departments released a public statement on regulatory policies and warned of the risks of ICO projects,” explains Viabtc’s closure announcement.

"As a responsible cryptocurrency exchange platform, Viabtc has made a serious decision to carry out the spirits of the policy — we will officially close the website Viabtc.com for exchange business in Mainland China on September 30th."

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

Source: Bitcoin News

 

 

 

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