China’s second largest cryptocurrency exchange BTCChina has announced it is shutting down on Sept. 30.
In tweets Thursday, the exchange, which also comprises an international arm BTCC, said the move was a direct result of Chinese regulatory statements.
It added BTCC would continue operating as normal.
2/ BTCC products, including BTCC Pool, are not affected by this change. Please contact us at email@example.com if you have any questions. https://t.co/r3HvINU20p— BTCC (@YourBTCC) September 14, 2017
Bitcoin continues to decline in price in the aftermath of China banning ICOs, and rumors circulating of a second ban on Bitcoin-to-fiat exchange.
BTCC initially said it would “change its business model” in the event of a ban, and a potential full closure will come as a surprise to the industry.
Mainstream press sources had also prophesied a ban on exchanges, leading to widespread criticism in the face of non-official statements explicitly demanding closure.
Data from Bitcointicker shows prices dipping under $3700 meanwhile, with major support only hiding at the $3000 mark according to an analyst reported by Cointelegraph yesterday.