China’s crypto-exchange bans become “Permanent” – ViaBTC, BTCC, Yunbi

Exchanges have updated their shutdown status and included the word “permanent” into the announcements. This comes at a time where no new announcements have been made by the People’s Bank of China (PBoC), however, there have been rumors that authorities have been talking directly with the exchanges. The circulating document titled “北京互金整治办:比特币交易平台15日晚必须发公告明确停止交易时间” sets a deadline for exchanges to announce their closure by the end of the 15th of September.  Where is an aggregated list of the announcements so far:

BTCC

BTCChina has updated its phrases to say it will “completely shut down” its exchange business (previous “stop all trading“). Seems like they needed to include some finality (at least for now).

YunBi

YunBi has made an official announcement on their customer service zendesk that they will be permanently shutting down “永久性关闭” on the 20th of September.

  1. 云币网将于北京时间 2017 年 9 月 20 日 00:00 永久性关闭所有品种交易功能;

ViaBTC

Via has issued an announcement today that they will close their website by the 30th of September. The reason for the shutdown is due to the ICO regulations put forth on the 4th of September, and no new legislation has been quoted on the shutdown notice.

OKCoin

Stopping RMB trading announcement 

Huobi

Stopped RMB trading. 

Will it really be “Permanent”

One of the major cultural differences between the East and the West is that China tends to use stronger language. Hence making something “illegal” or “permanent” doesn’t mean it will always be so. We saw with the ICO ban that after making it illegal, Chinese National TV CCTV-13 had a feature section where a chinese official came out to say the the ICO ban was just a “halt” rather than a “permanent ban”. Currently there is massive pressure to make things look good before the “19th National People’s Congress” on the 18th of October.

Sources

Coindesk

3 comments

    1. “云币网将于北京时间 2017 年 9 月 20 日 00:00 永久性关闭所有品种交易功能;” 永久性关闭 = Permanent

  1. I guess the wrong use of language causes many confusions. As in many 3rd world countries.

    Permanent means permanent. But yeah, if the government starts using permanent as temporary (by not standing by their words or wrong use of words) everything is up for wild interpretation of course!!

    Yet another reason we need more crypto and less government in our lives.

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