With more than 1000 vendors now accepting bitcoin as an official means of payment signals the huge unexploited opportunities in the cryptocurrency market in Africa. The exchange has said that it'll cease trading for China-based customers from September 30.
"After carefully considering the announcement published by Chinese regulators on September 4, BTC China Exchange will stop all trading on September 30", the exchange said. "Stay tuned with our announcement if there is any change". The article is based on a recent talk given by BTCC CEO Bobby Lee. We apologize for the inconvenience. The company said some of its products, such as the BTCC mining pool, will remain operational. The exchange had traded a token called ICOCoin, which was started by a BTCC co-founder.
OKCoin, BTC China and other exchanges indicated that they will comply with the authorities' decision but continue to supply information for over-the-counter trading if such transactions are still permitted.
In the last 24 hours most cryptocurrencies in the top-ten are experiencing double digit losses more-so in a weekly understanding the decline is up to 40%.
Since the news has been released, bitcoin's price has dropped below the $3500 range.
The readers also must be aware of the fact that this isn't the first time Chinese regulators have taken such step.
Namibia's central bank recently issued a paper outlining its unfavorable view of cryptocurrencies.
"The concern with Bitcoin now, and it is not unique to China, is that it can be used to transact completely anonymously", he said.
Chinese regulators have shut down bitcoin exchanges, leaving the future of digital currencies in China up in the air and sending the price of bitcoin and ether tumbling.
What do you think about the Chinese exchange shutting down trading on September 30th?
But that wasn't the only piece of Ripple news to weigh on the Ripple price prediction.