Tag: okcoin

Bitcoin Price Crashes 10% as Chinese Exchanges Block Withdrawals

Huobi and OKCoin, two of China’s biggest exchanges have announced that they will be blocking Bitcoin withdrawals for atleast 1 month as a result of increase AML / KYC regulations. It comes as little surprise that the exchanges are going to implement better KYC protocols as the PBOC had a meeting a 2 days ago about this exact subject. After its closed-door meeting the PBOC released a statement warning Bitcoin …
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China’s Bitcoin Exchanges’ Volume Plummets as Regulators Crack Down

It all started on January 11th 2017, when regulators decided to initiate a crackdown on Chinese Bitcoin exchanges. The PBOC (People’s Bank Of China) investigated a number of exchanges for suspicion that they weren’t adhering to government regulations. A few days after the investigation began, Chinese exchanges announced that they will be adding fees to their trading platforms. Chinese exchanges have dominated the bitcoin market for as long as we can …
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Huobi Terminates Margin Trading, Chinese Bitcoin Market to See Major Improvements

Earlier this week, the People’s Bank of China (PBOC) criticized OKCoin and Huobi, two of the three largest bitcoin exchanges in China apart from BTCC, for violating local regulations by operating margin trading platforms. The central bank of China also noted that OKCoin and Huobi did not have sound KYC and anti-money laundering system. Local publications including Hexun and the Shanghai Observer reported: “Preliminary inspection on “OKCoin” and “Huobi” showed …
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Huobi and OKCoin See Massive Decline in USD Trading Volume

The Bitcoin price is often denominated in its USD value, even though most of the trading volume originates from non_US markets. Particularly Huobi and OKCoin are two exchanges where a lot of BTC/USD trading used to take place. Things have changed over the past few weeks, as both platforms are seeing a lot less volume compared to previous months. What Is Going On With Huobi and OKCoin? Both of these …
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