VIABTC shutting down

[Tipstar]

One of the largest china centric exchange and one of the largest platform for bitcoincash is now shutting down due to chinese policy.

https://www.viabtc.com/announcement/detail?id=11

[1715682990]

1715682990

[Maheshkumar_Hrangkhawl]

I am still confused. Their statement reads: "China's central bank together with six other departments released a public statement  on regulation policies and warning the risks of ICO projects". But there is no mention about Bitcoins or trading. Why they are closing down the exchange, when the central bank is only targeting the ICOs?

[CarlOrff]

My problem is nowhere we can see a official chinese declaration about BTC and exchanges.
And the rumor is still to buy BTC, not to own some.
Chinese btc owners can still exchanges btc and alts in exchanges from others country.

[equator]

It shows that this is the actuall plan of most of the exchanges to exit the bitcoin as they are seeing more regulation on bitcoin business and they are not able to do any wrong doings through old style , so now it is the starting of the end of the bad exchanges who were doing only illegal transaction and now they are afraid so they are closing it down.

[jyotianand01]

VIABTC is the largest crypto-currency exchange of China and if that is going to close, it is sad end of BTC, BCH and all other crypto-currencies in china. They stop ICOS and then stop crypto trading but not stopped mining pools. When they are going to stop cryptos, why they not stop mining pools. It is very unfortunate decision.

[AleSergio]

I am still confused. Their statement reads: "China's central bank together with six other departments released a public statement  on regulation policies and warning the risks of ICO projects". But there is no mention about Bitcoins or trading. Why they are closing down the exchange, when the central bank is only targeting the ICOs?

I don`t think that they don`t even need this statement, they just don`t want to take more risks on themselves, because sooner or later China could also start doing some statements against exchangeres and they can get som problems.