Chinese regulators were rumored to have begun taking steps to shut down bitcoin exchanges in China and maybe even
stop trading of cryptocurrency all together.
Not exact matches
Chinese bitcoin exchange BTCChina said on Thursday that it would
stop all
trading from Sept. 30, setting off a further slide in the value
of the
cryptocurrency that left it over 30 percent away from the record highs it hit earlier in the month.
On the other side
of the planet, India too is facing a similar situation where the Reserve Bank
of India has instructed all banks to
stop dealing with those who
trade in
cryptocurrencies.
This price is known as the
stop price, and is usually initiated by investors leaving for holidays, entering a situation where they are unable to monitor their portfolio for an extended period
of time, or
trading in volatile assets, such as
cryptocurrencies, which could take an adverse turn overnight.
In a Reddit post, Ethereum's founder, Vitalik Buterin, asked the online currency exchanges to suspend
trading of ether and DAO tokens as well as deposits and withdrawals
of the
cryptocurrency until Ethereum's core developers could
stop the bleeding.
«All
trading exchanges must by midnight
of Sept. 15 publish a notice to make clear when they will
stop all
cryptocurrency trading and announce a
stop to new user registrations,» the government notice said.
Reports today confirmed investors fears, as Chinese authorities ordered Beijing
cryptocurrency exchanges to
stop trading and immediately alert users
of their closure.
The Business Administration Department
of the People's Bank
of China (PBoC) has reportedly issued a document today requiring payment providers in Beijing to
stop facilitating
cryptocurrency trading activities.
However, that has not
stopped the massive influx
of users looking to
trade cryptocurrency.
Cryptocurrency exchange EXMO announced that due to the minimal turnover
of the DOGE / RUB currency pair, after the 6th
of March 2017, support for the
trading pair will be
stopped.
As one Redditor puts it, China is suffering from massive whale (people who have a lot
of cryptocurrency) manipulation via fake news, exchanges have no official accounts or audits so all fiat payments
of citizens end up directly in the pockets
of the site owners, with mere numbers simulating
cryptocurrency ownership remaining on screen, exchanges change their fees at will, they add or remove
trading pairs as they see fit to manipulate the market or
stop withdrawals, etc..
Regional exchanges such as South Korea's Bithumb, the world's second largest
cryptocurrency exchange in terms
of daily
trading volume, have also
stopped accepting new users.
Coincheck, the hacked Japanese
cryptocurrency exchange,
stops trading three digital coins focused on the high level
of anonymity, according to Japan Times.
Following the enactment
of Senate Bill 5031 or the Uniform Money Services Act, major
cryptocurrency trading platforms Bittrex and Poloniex will soon
stop their operations in the state
of Washington.
At the bottom
of bitcoin's plunge, one
of the largest bitcoin
trading platforms Coinbase halted all
trading — in order to
stop the
cryptocurrency's decline.
Last year the People's Bank
of China
stopped domestic
cryptocurrency exchanges from dealing with
trades tied to the country's legal tender, the renminbi.
However, at the beginning
of 2017, the country's central bank
stopped mainland exchanges from
trading cryptocurrencies with the national tender the renminbi.
Combining the three major components
of the digital economy; a
cryptocurrency exchange, a
trading platform, and an ICO platform, CoinMetro offers a «one
stop shop»
cryptocurrency trading environment that is customer - centric to its core.
The news from China that one
of the most popular exchanges in the country will
stop trading Bitcoin by October has the world's most popular
cryptocurrency losing some
of its recently gained ground.