BTCChina Clarification on Decision to Shut Down Exchanges

[BTCC_Official]

We've received several questions from customers following our announcement yesterday. We'd like to make the following clarifications:

1. BTCChina will completely shut down its exchange businesses on September 30th.

2. We made the decision to close our exchanges after considering this announcement published by Chinese regulators: http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/3374222/index.html

3. BTCC is a separate company from BTCChina. BTCC Pool, BTCC USD Exchange, BTCC DAX, BTCC Mobi, and BTCC Mint are not affected by this change. Please check out our BTCC products by visiting https://www.btcc.com and https://www.mobi.me

4. BTCChina Exchange and BTCChina Blockchain+ have enough funds to accommodate all customer withdrawals, including CNY, BTC, LTC, BCC, and ETH.

5. BTCChina encourages customers to withdraw their funds as quickly as possible. Customers can withdraw their funds whenever they want.

6. BTCChina processes all withdrawals (including CNY, BTC, LTC, and ETH) within 24 hours.

7. BTCChina customers will still be able to withdraw their funds after September 30. We will let customers know if there are any changes.

8. BTCChina's Blockchain+ platform will open up BCC withdrawals before Sunday, September 24th.

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[CarlOrff]

7. BTCChina customers will still be able to withdraw their funds after September 30. We will let customers know if there are any changes.

After september 30, is there a special procedure to withdraw our funds ?
The site stay open for these withdraw after september 30 ?

What is exactly official in chines governement about exchanges ?

[davis196]

7. BTCChina customers will still be able to withdraw their funds after September 30. We will let customers know if there are any changes.

After september 30, is there a special procedure to withdraw our funds ?
The site stay open for these withdraw after september 30 ?

What is exactly official in chines governement about exchanges ?

Why would someone be so stupid to wait after 30 September and then withdraw his funds?
It`s obvious that most of the users will withdraw their funds before 30 September.
It`s sad that some bureaucrats will destroy all the chinese cryptocurrency exchanges and perhaps all the mining in China.Bitcoin and all the other altcoins will need a few months to recover from this "disaster".

[legendbtc]

Now those people are mentioning about Withdrawals only and they are not specifying any further details about their future activities after Sept 30th. I think we have to wait for an official announcement from the China Government only, whether they will legalizing the cryptos are not.

[cryptothreads]

Now those people are mentioning about Withdrawals only and they are not specifying any further details about their future activities after Sept 30th. I think we have to wait for an official announcement from the China Government only, whether they will legalizing the cryptos are not.

I agree with you . We need to get the most accurate information from the Chinese community, if this really happens then surely the cryptocurrency market will have a lot of big losses and it will be very difficult to recover in the future.

[ivrynx]

Thank you so much for this clarification, now everything is getting clearer by the minuted only one exchange in china will shutdown and not all of theur exchanges will follow, i gues this is just because of the panic, caused by the media,  people who are not in china are being misguided and misinformed, it seems that btcc exchange just eanted their clients to get all their coins and they could do whatever they want with it, they can make use of it, go to another exchange or sell, i guess the reason why bitcoin suddenly dropped is becuase btcc exchange, is the largest one in china and this move will surely affect the price of bitcoin and other cryptocurrencies, it is also clear that they will be operating again sometime soon, they are just waiting for china's issue with regulation, since this is happening, we all might as well be active in buying as much as we can, but still be sure to only use the extra cash ee have and not our savings, since this is investment, i guess we can thank btcc exchange for an early christmas gift, since its move, the price went down, and we have a bitcoin bargain. I hope that this clarification will be reported by the media, since they were the ones who have reported it wrong, causing panic among bitcoiners, especially to those who have weak hands, hopefully china could fix this regulation that they are planning sooner or later, since we all now know that a movement from them can really affect the valuation o bitcoin, and not to mention those people in the west who are capitalizing on this news, they need to ask btcc exchange and all other exchanges in china, what are theur thoughts regarding the movement of bitcoin and the shutdown of their largest exchange, their thought will surely be woth it for the future of bitcoin.

[odolvlobo]

2. We made the decision to close our exchanges after considering this announcement published by Chinese regulators: http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/3374222/index.html

That notice clearly bans ICOs and their tokens, but not Bitcoin. What is the reason for shutting down the entire exchange?