BTCC Offers Fee-Free Dollar Trading for Post-PBoC Boost

NEWS
Pete Rizzo
Feb 28, 2017 at 13:30 UTC  |  Updated  Feb 28, 2017 at 13:34 UTC

BTCC, one of China's 'Big Three' digital currency exchanges, has announced a new promotion that will see fees cut on US dollar-based bitcoin trades.

Beginning 1st March and running through the month, BTCC says it will cease charging customers on both sides of trades on BTCC.com, its international exchange site. However, fees will remain in place at BTCChina.com, its domestic exchange offering.

In statements, BTCC representative Tendai Musakwa said the promotion is a tactical move aimed to outflank competitors by focusing on the exchange's international reach.

Musakwa said:

"We're now focusing on growing more. Part of that includes learning from experiences operating the longest-running bitcoin exchange."

The surprise promotion follows recent policy changes at the exchange following new regulatory pressure from China's central bank.

Beginning in January, the People's Bank of China (PBoC) took increasing interest in the sector, suggesting a number of operational changes at BTCC and its competitors, that have since found them losing their hold on international marketshare.

China image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

ChinaExchangesPBOCExchange Fees