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RE: Chinese Exchanges Update Summary Article

in #bitcoin8 years ago

Exchanges • Regulation • Exchanges • News • Regulation
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China's major bitcoin exchanges halted, or otherwise updated, their lending-based bitcoin trading services today.

First reported by China-based bitcoin traders and market observers this morning, BTCC, Huobi and OKCoin appear to have quietly adjusted their terms, though only BTCC had moved to issue a formal comment confirming the changes.

Bobby Lee, CEO of BTCC, acknowledged that changes to the exchange's service were being made in response to interactions with the People's Bank of China, the country’s central bank, though he stopped short of saying that the service had been terminated or disabled.

Lee indicated that the move came after the exchange received "informal guidance" from the PBoC, which has been more actively engaged with domestic bitcoin exchanges amid the run-up in bitcoin prices seen at the start of the year. The developments followed news that central bank officials had met with representatives from the exchanges.

Lee told CoinDesk: