OKCoin Refutes Investing Client Funds Into “Wealth Management Products” Claims

Aug 25, 2017

One of China’s biggest digital currency exchanges has refuted claims it used clients’ funds to invest in financial products deemed risky. According to state newswire Xinhua in an August 17 report, both Huobi and OKCoin exchanges reportedly invested around 1 billion yuan ($150 million) ...

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Huobi’s BitVC Suspends Bitcoin and Litecoin Withdrawals Service

Apr 7, 2017

Following the announcement on March 31 asking clients to convert their fiat asset into bitcoin or litecoin and return margin before 12:00 April 1, BitVC today released a notice on its website suspending bitcoin and litecoin withdrawals service. The announcement reads: Dear users: To ...

Huobi’s BitVC Going to Close CNY Spot and USD Spot Trading at 12:00 April1st

Mar 31, 2017

Following the emails(unconfirmed) in which Huobi detailed the information required from clients in order to process their withdrawals, Huobi’s BitVC released an announcement asking clients to convert their fiat asset into bitcoin or litecoin and return margin before 12:00 April 1st. Bi...

Huobi Begin to require stricter AML procedures for users.

Mar 24, 2017

Recently, One of the leading Chinese bitcoin exchange, Huobi.com has sent a notification to  some of its users to inform them of a set of new Anti-Money-Laundry(AML) requirements. Regarding to Huobi’s new policy, Huobi users with potential money laundry risks are now requi...

Bitcoin trading in yuan drops as new transaction fees by exchanges take effect

Jan 24, 2017

Following the commencement of the move to start charging transaction fees by China’s BTCC, OKcoin and Huobi on Tuesday January in response to PBoC’s requirement to eliminate margin trading service, Bitcoin trading volume in Chinese yuan has dropped to its lowest for the year. A...

Chinese Exchanges consider to split Bitcoin to appease PBOC and attract more users

Jan 23, 2017

As Chinese exchanges will begin to charge service fees for transactions on their platforms starting Tuesday January 24, they seem to have devised a way to split Bitcoin into a more usable form associating its divisibility with the parity it has with fiat money. The move to charge both mar...