Bitkan suspends OTC trading but ViaBTC will continue

There has been press recently saying china will ban Bitcoin exchanges operation accordingly there is another news revealed on Bitkan.

Bitkan suspends OTC trading

Bitkan is the over-the-counter cryptocurrency trading service provider from China is now suspending OTC trading platform on 14th September. The news has come after the ICO ban announcement in China.

Since People’s bank of china is preparing to shutter Bitcoin exchanges, many platforms seem to comply with the ICO ruling. It is possible through delisting crowd sale driven tokens, since many exchanges have initiated the same process. However, it also coming in view that regulators should not prohibit OTC trading.

Though, the suspension announcement from Bitkan would affect both web based and mobile users. Nevertheless, the app’s wallet function is still accessible to users. Furthermore, the company has not specified when it will re-enable cryptocurrency trading.

ViaBTC would get affected

Nonetheless, ViaBTC was in recent press and news – since they were launching Bitcoin exchange from china in order to control speculation and price fluctuations.

ViaBTC would get affected

This cryptocurrency exchange was launched in earlier May 2017 and is growing in cryptocurrency market era. The operation of ViaBTC will remain continue and subsequently it has announced adding up 7 cryptocurrencies – to – cryptocurrency trading pairs priced as BTC and BCC.

Moving backward to twitter feed – last week ViaBTC CEO has tweeted that China would shut down all exchanges and other twitter user taken it up for clear illumination and tweeted that “ViaBTC won’t shut down.

It explains if people’s bank of China does not consider forwarding Chinese bitcoin exchanges, it would stop accepting fiat deposit and also cancel CNY trading pairs.

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Image source: bitsonlineBitcoinmagzine

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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