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China bitcoin exchanges awaiting clarification on closure report

Len

By Len
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Len

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China’s Bitcoin exchanges said on Saturday they are still awaiting clarification from the authorities on a media report that they will be shut down. 

Bitcoin fell sharply on Friday after Chinese financial publication Caixin reported that China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback. 


The news follows China’s move earlier this week to ban so-called “initial coin offerings,” or the practice of creating and selling digital currencies or tokens to investors in order to finance start-up projects. 

A spokeswoman for Beijing-based OK Coin said the platform has not received any notification from regulators. 

Spokespersons at Beijing-based Huobi and Shanghai-based BTCC said they were still waiting for further official clarification.

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