31 Jan '14, 11am

Happy Chinese New Year, Bitcoin! Biggest exchange opens for business despite bank warning

Happy Chinese New Year, Bitcoin! Biggest exchange opens for business despite bank warning

Happy Chinese New Year, Bitcoin! Biggest exchange opens for business despite bank warning Published time: January 31, 2014 10:53 Get short URL Fireworks illuminate the city's skyline in Hong Kong (AFP Photo / Philippe Lopez) Tags Banking , Bitcoin , China , Commodities , Currencies , Law The world’s biggest bitcoin exchange by volume has reopened allowing yuan-to-bitcoin deposits. This goes against an order by the People’s Bank of China, which said all bitcoin trading should stop before the Chinese New Year, January 31. BTC China executive Bobby Lee said that as of Thursday, the exchange decided it could legally accept bitcoin deposits in its corporate bank account, and then transfer funds to customer accounts. Shanghai-based BTC China stopped accepting deposits in Chinese yuan in December after the People’s Bank of China warned financial institutions not to sell or trade ...

Full article: http://rt.com/business/bitcoin-china-btc-reopen-458/

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Happy Chinese New Year! May the Horse Be With You!

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