BTC China, one of the largest exchange platforms for crypto-currencies online, chinese put an end to his activity yesterday and stated that it would cease all transactions this Saturday. The site said in a statement that this decision is related to the announcement of the seven ministries on the 14th of September, which sought to platforms for monetary transactions in China to analyze the risks and to protect the rights of investors.
According to this announcement, investors have until October 30th to remove all of their assets. If they do not want to retain their digital assets, they need to transfer.
Bitcoin, Litecoin, and Ethereum affected by this device
All withdrawals must be made within 72 hours. The crypto-currencies affected by this measure are Ethereum, Litecoin and Bitcoin. In addition, the function ” mining “, will not be affected and will continue to operate after the site.
Other platforms of Bitcoins, including OKCoin and Huobi, have announced that they would meet the requirements of the regulatory agencies to stop their activities by the end of October. Experts have pointed out that the transaction of crypto-currencies does not interfere with the policy put in place by China regarding the development of the technology blockchain.
Devices designed to protect investors
Since the beginning of the month of September, the exchanges of crypto-currencies have been at the heart of all the discussions in China. The chinese authorities have focused closely on the risks related to the development of these virtual currencies and the systems put in place to protect investors. Various institutions, including the chinese central bank have given their opinions concerning transactions in crypto-currencies.
In recent weeks, after the announcement of the chinese government, the prices of these virtual currencies has fluctuated. On the other hand, the daily volume of transactions has also decreased to less than 1 400 pieces on the major stock exchanges. A considerable decline which has had an impact on the increase in the price of crypto-currencies.