China-Based Bitcoin Exchange BTCC Brings Domestic Trading to a Close

China BTCC exchange closes trading

BTCC, an international cryptocurrency exchange with headquarters in China, has announced it has ceased all domestic trading activities.

On its website, BTCC states that all domestic trading in yuan and cryptocurrencies was officially suspended at midday, September 30, Beijing time.

The exchange stopped accepting deposits on September 27, with China-based users being advised to withdraw their funds from the exchange before the end of October.

In a tweet accompanying the closure, BTCC claims to have the longest known lifespan for a cryptocurrency exchange, having operated for a “world record”of 2,305 days.

The closure of the exchange’s China-facing trading operations comes following a statement from financial regulators on September 4, which banned all token sales (or ICOs) within the country. Exchanges in the country have since voluntarily decided to cease trading activities.

BTCC will continue to operate trading services outside China, and has also confirmed that its mining pool will continue to operate normally.

Other major cryptocurrency exchanges in the country – including Yunbi, Huobi and OKCoin – are expected to cease trading by the end of October.

This article was first published by Rachel Rose at Coindesk

 

2017-10-02T11:50:35+00:00

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