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China’s three largest bitcoin exchanges officially resumed withdrawals. As a result, bitcoin price recovered to $2,400 and market stabilized.
China’s fintech landscape is getting a specialized committee to oversee its impact, the People’s Bank of China has announced.
Chinese exchange Okcoin has suspended inbound wire transfers as of Tuesday citing banking problems.
The weekly trading volume of LocalBitcoins China is on the rise again amid People’s Bank of China’s meetings with bitcoin exchanges on strengthening regulations on bitcoin trading.
Take a roller coaster seat then as we revisit some of Bitcoin’s major crashes up to the present day.
In the afternoon of March 18, Bitcoin price plunged to $926 on Coinbase’s GDAX and $940 in most global Bitcoin exchanges, recording a 16 percent drop in value within a day, falling from $1,100 to $926.
People’s Bank of China director Zhou Xuedong has released specifics of his thoughts about Bitcoin regulation in the wake of the ETF refusal.
The People’s Bank of China’s (PBoC) business management department director Zhou Xuedong told the nation’s regulators that they must adopt a forgiving attitude towards exchanges and not prohibit their operations.
Following new information from regulators, Chinese exchanges are choosing to agree on terms prior to allowing BTC withdrawals to recommence.
Local Bitcoin trades have surged in China amid fears of a regulatory crackdown similar to Venezuela. Peer-to-peer Bitcoin trading is up across the board in restrictive countries.
Cointelegraph explains China's influence on Bitcoin volatility and possible consequences for the traders.
LocalBitcoins may come under scrutiny from the People’s Bank of China, users fear after the marketplace became Chinese investors’ new trading hub and set record trading highs last week.
Chinese investors are putting their faith in LocalBitcoins to exchange Bitcoins after major exchanges in the country stopped allowing withdrawals of BTC. The move was in response to warnings from the People’s Bank of China about AML/KYC regulations.
Is PBOC out to get Bitcoin, holding it on purpose below the $1000 level?
Markets have factored in the fee imposition by Chinese exchanges, so we are entering a period of Bitcoin price stability.
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