Huobi and OKCoin will continue to operate …

Huobi and OKCoin To Continue, But Eliminate RMB Trading Pairs

Chinese cryptocurrency exchanges Huobi and OKCoin, which are among the country’s largest exchanges, announced that they would suspend trading in cryptocurrencies paired with the yuan until the end of October. Writes about this CoinDesk.

Thus, at least for now, there is no talk of stopping trading in pairs “cryptocurrency-cryptocurrency”. At the same time, both exchanges stop accepting deposits in yuan from today.

According to the exchanges, users will be able to receive detailed information on the termination of trading until September 30. The exchanges intend to gradually stop trading in the pair with the yuan, planning to completely close them by October 31.

The suspension of fiat trading on Chinese cryptocurrency exchanges marks the beginning of a new phase of Bitcoin regulation in China.

Huobi and OKCoin will continue to operate ...

Earlier, China banned ICOs, calling them an illegal form of financing. Companies that have already conducted successful ICOs were forced to return funds to investors. Later it became known that regulators intend to suspend the work of local exchanges, which accounted for more than 20% of global Bitcoin trading. BTCC and ViaBTC were the first to announce the closure of the sites, then Yunbi joined them.

Recall that at the beginning of this year, as part of China’s new anti-money laundering policy, a meeting of representatives of the largest cryptocurrency exchanges and regulators took place, after which the withdrawal of funds from exchanges was suspended for several months while new requirements for exchanges were in the process of being developed and implemented..

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