12 Sep '17, 4pm

Bitcoin OTC Service Suspends Trading Citing China Pressure

BitKan, a over-the-counter (OTC) trading service for cryptocurrencies in China, announced today that it will suspend its OTC operations amid growing scrutiny from regulator, a notable development given rumors that OTC markets may be excluded from a possible ban. In the news post , BitKan said that it would suspend the trading service beginning at 12:00 a.m. on September 14. The suspension will affect both its Web-based and mobile users. However, withdrawals and deposits will remain active, according to the firm. The statement only noted that the suspension is a result of the joint announcement published by People’s Bank of China on September 4, regarding the ban on illegal initial coin offering (ICO) fundraising and trading activities. BitKan's statement explains: "After the suspension of the OTC service, BitKan’s wallets will continue functioning normally. Deposition and ...

Full article: https://www.coindesk.com/bitcoin-otc-service-suspends-tra...

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