Bitcoin Forum
September 26, 2018, 12:08:49 PM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: China Bitcoin exchange suspends RMB recharges  (Read 952 times)
arcoin
Newbie
*
Offline Offline

Activity: 48
Merit: 0


View Profile
December 22, 2013, 06:05:24 AM
 #1

BEIJING, Dec. 18 (Xinhua) -- In the latest blow to the Bitcoin market in China, BTC China -- the country's main Bitcoin trading platform -- has suspend recharge services using the Chinese currency.

BTC China's website said it would continue Bitcoin denominated recharge, Bitcoin withdrawal and Renminbi cash withdrawal, while continuing its daily operations. BTC also promised alternative recharge means for investors.

The website said the suspension was for "reasons known to all", but failed to specify them. The announcement comes as the price of the digital currency in China nosedives, triggered by a warning from the People's Bank of China (central bank) along with the banking, insurance and securities regulatory commissions and the Industry and Information Technology Ministry.

The notice stated that financial and payment institutions may not accept the Bitcoin as legal tender; price products or services in Bitcoin; engage in transactions involving Bitcoin; or accept insurance related to Bitcoin.

About one hour after the notice, the price of one Bitcoin at BTC China dived from 6,970 yuan (1,140 U.S. dollars) to just over 4,500 yuan, down by as much as 35 percent, and in the past two weeks, price has continued to sink like a stone.

At around 7 p.m. Beijing Time on Wednesday, the bid price stood at just 2,023 yuan.

An estimated 1.8 million Bitcoin were traded in November on BTC China. It is China's largest Bitcoin trading platform aimed at investors buying and selling with the Chinese currency Renminbi.

Bitcoins are stored in a virtual wallet and can pass from person to person around the world in secret, allowing users to remain anonymous. It bypasses both banks and banking regulators worldwide.
1537963729
Hero Member
*
Offline Offline

Posts: 1537963729

View Profile Personal Message (Offline)

Ignore
1537963729
Reply with quote  #2

1537963729
Report to moderator
1537963729
Hero Member
*
Offline Offline

Posts: 1537963729

View Profile Personal Message (Offline)

Ignore
1537963729
Reply with quote  #2

1537963729
Report to moderator
1537963729
Hero Member
*
Offline Offline

Posts: 1537963729

View Profile Personal Message (Offline)

Ignore
1537963729
Reply with quote  #2

1537963729
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537963729
Hero Member
*
Offline Offline

Posts: 1537963729

View Profile Personal Message (Offline)

Ignore
1537963729
Reply with quote  #2

1537963729
Report to moderator
1537963729
Hero Member
*
Offline Offline

Posts: 1537963729

View Profile Personal Message (Offline)

Ignore
1537963729
Reply with quote  #2

1537963729
Report to moderator
bryant.coleman
Legendary
*
Offline Offline

Activity: 1918
Merit: 1006


https://karatcoin.co


View Profile
December 31, 2013, 03:53:42 PM
 #2

I need information from someone in China. I was checking the BTC-China volumes. I found that although it has declined heavily, the trade is still going on. Yesterday, around 3,000 BTCs were traded. Can anyone confirm this?


  █ █████       ▄████▀▄██▀
  █ █████     ▄████▀███▀
  █ █████    ████▀███▀
  █ █████  ▄███▀███▓
  █ █████▄███▀████▀
  █ ███████▀████▀
  █ █████▀▄█████▄
  █ ███▀▄█████████▄
  █ █▀▄██ ▀█████████▄
  █ ▄████   ▀███████▀█▄   
  █ █████     ▀███▀▄████▄
  █ █████       ▀▄████████▄
                   
                    █████                   
                ▄███  █  ███▄               
             ███      █      ███             
         ▄███         █         ███▄         
       ██    ███████████████████    ██       
    ████            ██ ██            ████   
    ██             █     █             ██   
    █ █           █       █           █ █   
    █ ██         █         █         ██ █   
    █  ██      ██           ██      ██  █   
    █   ██    ██             ██    ██   █   
    █    ██  ██               ██  ██    █   
    █     █ ██                 ██ █     █   
    █     █████████████████████████     █   
    █  ███  ██                 ██  ███  █   
    ███       █               █       ███   
      ███      ██           ██      ███     
         ███     █         █     ███         
            ▀███  ██     ██  ███▀           
                ▀████   ████▀               
▀███▀
                 
██
██
██
██
██
██
██
██
██
██
██
██
██
MyLuckyMichelle
Newbie
*
Offline Offline

Activity: 38
Merit: 0


View Profile
January 04, 2014, 07:31:19 PM
 #3

Does anyone know what are the current possibilities to buy bitcoins in China with Chinese Yuan?
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!