Topic: China's Bitcoin Exchanges Are Shifting Business Models (Read 197 times)
CHINA ALREADY PLANNED TO REGULATE NEO COIN WHICH WILL BE USE IN THEIR ALL PUBLIC SECTOR .BUT AS SUCH NO OFFICIAL NEWS IS NOT OUT FOR THAT MAY BE DEC 2017 THEY WILL GONNA ANNOUNCE TO REGULATE NEO COIN OFFICIALLY IN MARKET THEN NEO WILL CROSS MARKET CAP OF ETHEREUM TOO AS PER THERE POPULATION
BTCSome of China's top bitcoin exchanges are now shifting to the over-the-counter (OTC) market in the wake of a crackdown by regulators in the country.
Well these companies still have to go underground to operate, but what they should do is ditch the Yuan and just deal in other currencies - Euro, Dollar, Yen. That opens their exchange up to all the business outside of China...and not only saves their business, but grows it in the process.
BUT ALTERCOIN HOLDER WILL CRY LOT BCOZ THEY ALL ALTER WILL BE CRASH DUE TO BTC GROWTH AND MAJOR PEOPLE HAVE INVESTED IN ALTERCOIN TO GROW THERE BTC 
Great news for the bitcoin family, they had to do something to regulate it.
its just a beginning bitcoin will get 8000$ with in this week as right now its already up 7500$ position has been taken
wow, that's really good news for bitcoin well wisher and those related with bitcoin. now Chinese people will come for investment in bitcoin project .
BTCSome of China's top bitcoin exchanges are now shifting to the over-the-counter (OTC) market in the wake of a crackdown by regulators in the country.
In announcements made on Oct. 31, both OKEx and Huobi Pro said they will introduce peer-to-peer trading platforms that support fiat currency transactions, including the Chinese yuan, as an alternative for the country's domestic cryptocurrency investors.
Based in Hong Kong, the two exchanges had previously provided solely crypto-to-crypto trading since being founded by their respective parent exchanges, Beijing-headquartered OKCoin and Huobi. They will now pivot toward a combination of the existing structure and the direct, peer-to-peer model.
According to OKEx, the yuan is currently the only fiat currency that is available on its P2P platform, noting that it has seen increasing demand from Chinese investors since the exchange crackdown.
Lennix Lai, financial market director at OKEx, said the platform has received around 8,000 user applications for account registration since the new service's launch on November 1.
Lin Li, CEO of Huobi, said in his latest announcement that, besides the P2P platform on Huobi Pro, the company is also eyeing an expansion to overseas markets. The firm is currently in the process of setting up an exchange platform in South Korea in order to compete with local marketplaces like Bithumb.
The news follows months of growing scrutiny by Chinese regulators that led to all major bitcoin exchanges in the country, including OKCoin, Huobi, BTC China, and ViaBTC, to suspend order book trading of digital assets against the yuan.
In announcements made on Oct. 31, both OKEx and Huobi Pro said they will introduce peer-to-peer trading platforms that support fiat currency transactions, including the Chinese yuan, as an alternative for the country's domestic cryptocurrency investors.
Based in Hong Kong, the two exchanges had previously provided solely crypto-to-crypto trading since being founded by their respective parent exchanges, Beijing-headquartered OKCoin and Huobi. They will now pivot toward a combination of the existing structure and the direct, peer-to-peer model.
According to OKEx, the yuan is currently the only fiat currency that is available on its P2P platform, noting that it has seen increasing demand from Chinese investors since the exchange crackdown.
Lennix Lai, financial market director at OKEx, said the platform has received around 8,000 user applications for account registration since the new service's launch on November 1.
Lin Li, CEO of Huobi, said in his latest announcement that, besides the P2P platform on Huobi Pro, the company is also eyeing an expansion to overseas markets. The firm is currently in the process of setting up an exchange platform in South Korea in order to compete with local marketplaces like Bithumb.
The news follows months of growing scrutiny by Chinese regulators that led to all major bitcoin exchanges in the country, including OKCoin, Huobi, BTC China, and ViaBTC, to suspend order book trading of digital assets against the yuan.
Jump to: