Black clouds over the bitcoins in China
"Dear Customer,
International users on BTCChina CNY Exchange and Blockchain + can no longer deposit and withdraw CNY due to new regulations."
Users with a CNY balance can still buy and withdraw cryptocurrencies with their remaining balance. We welcome international users to use BTCC USD Exchange.
We apologize for the inconvenience. Please contact us at [email protected] if you have any questions.
The BTCChina Team
According to the e-mail content, deposits and withdrawals have been suspended in the yuan. However, users can still pay cryptopals. Trade on the BTCC USD remains active.
As reported by the Chinese press, Bitcoin or the stock exchange itself is unlikely to be banned, but the market will be heavily regulated. As you might expect, stock exchanges will have to meet even more requirements with probably including licenses. It is also worth mentioning that until now, the Chinese stock exchanges were still subject to strict government supervision. It is possible that new government weapons will demand so high that it is practically impossible or extremely difficult to meet.
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