Topic: China Bitcoin Exchange Restores Deposit Facility (Read 609 times)
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China Bitcoin Exchange Restores Deposit Facility
Popular Chinese bitcoin exchange BTC China has restored a facility allowing customers to purchase bitcoin by depositing yuan into the exchange's corporate bank account.
The move reverses a decision in December to halt such deposits, which the exchange made in response to a Dec. 5 memo from the People's Bank of China warning national financial institutions not to trade in bitcoin. Those twin developments threatened to curtail volumes on BTC China, which had grown to become the biggest exchange in the world, and prompted a more than 50% drop in bitcoin's international price over a two-week period in December.
Source: WSJ.com
Popular Chinese bitcoin exchange BTC China has restored a facility allowing customers to purchase bitcoin by depositing yuan into the exchange's corporate bank account.
The move reverses a decision in December to halt such deposits, which the exchange made in response to a Dec. 5 memo from the People's Bank of China warning national financial institutions not to trade in bitcoin. Those twin developments threatened to curtail volumes on BTC China, which had grown to become the biggest exchange in the world, and prompted a more than 50% drop in bitcoin's international price over a two-week period in December.
Source: WSJ.com
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