Chinese Bitcoin Exchange ViaBTC to Close Amid Regulatory Crackdown
Chinese bitcoin exchange ViaBTC has announced it will be closing its website at the end of September – the second exchange in as many days to do so.
Chinese bitcoin exchange ViaBTC has announced it will cease trading at the end of September – the second exchange in as many days to do so.
According to an announcement, following the recent statement from the People's Bank of China and other authorities on exchange regulation and ICO risks, ViaBTC has decided to shutter its China-facing website.
The statement said:
The news follows the announcement by cryptocurrency exchange BTCC yesterday, stating it will also be closing its domestic exchange service at the end of the month.
Further, news outlet Yicai reported yesterday that Shanghai's Municipal Finance Service Office had issued a verbal warning to all cryptocurrency exchanges, stating that operations must cease by the end of September.
At the time of writing, major Chinese exchanges OkCoin and Huobi are still operating as normal. However, founder of litecoin Charlie Lee stated yesterday on Twitter that OkCoin and Huobi will be meeting with regulators today, after which "they might change their tune".
ViaBTC image via CoinDesk archives
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