Connect to Us LinkedIn Youtube RSS


Aruba, September 19, 2017 - China’s biggest bitcoin exchanges will halt all trading services for local customers

The last hope for digital-currency trading in China is dead.
China’s two largest bitcoin exchanges, Huobi and OKCoin, said on Saturday (Sept. 16) that they will halt all trading services for local customers. It’s an about-face from their statements just a day earlier, in which the two companies said they would only halt yuan-based crypto trading by the end of October.
China has been the focus of global bitcoin trading over the past week after news reports emerged that regulators were planning to ban crypto trading on domestic exchanges, following a Sept. 4 notice issued by the Chinese central bank that banned “initial coin offerings.”
Shanghai-based BTCC, the world’s oldest bitcoin exchange, announced on Sept. 14 that it would shut down all domestic trading services by the end of this month, but Huobi and OKCoin’s earlier announcement said that their service closures would only cover yuan-based crypto trading. That meant Chinese customers could still, for example, trade one crypto asset for another on the two exchanges. That possibility is now gone with Huobi and OKCoin’s latest announcements, which effectively put an end to crypto exchange markets in any form in China.