[2017-10-03] A Few Chinese Bitcoin Exchanges Bid Farewell to the Crypto-Communit

[Terraformer]

This week a few popular Chinese bitcoin exchanges, BTCC, Bitkan, and Viabtc, shut down shop and stopped cryptocurrency trading operations. The closures were announced last month and follow the recent government decision to legislate virtual currencies on October 1.

Viabtc and BTCC Say Goodbye to the Crypto-Community

Last month many Chinese cryptocurrency trading platforms announced they would be closing their doors for an unknown amount of time. On September 30, BTCC and Viabtc said goodbye for now to the bitcoin ‘community’ and closed exchange operations.

“Dear friends, Viabtc has closed our Exchange service from 00:00 Sept 30th, 2017,” explains the Chinese exchange. “Viabtc has also completed CNY and crypto withdrawal of all users. We appreciate all your support and trust in us from all over the world — See you my friends.”

The exchange BTCC also bid farewell to the community as well and detailed the startup has been running nonstop since its inception stating;  

        "BTCC’s CNY exchange has stopped trading after operating for a world record of 2,305 days — Long live BTCC!"

Continue reading > https://news.bitcoin.com/chinese-exchanges-bid-farewell-to-crypto-community/

[iamTom123]

These exchanges have been making good money and importantly the necessary goodwill so am sure they would be thinking of getting back into the lucrative cryptocurrency market soon but of course not anymore based in China. I am not sure but I think Hong Kong can be a good alternative or they can partner with other business entities in other countries. They should apply here in my country (the Philippines) as we now allow Bitcoin trading. With the market as the whole world, a Bitcoin exchange can really be a very lucrative proposition it just so happened that China failed to appreciate the many benefits the country can get from Bitcoin so instead of regulating they opted for the ban.