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:
1/ BTCChina will completely shut down its exchange businesses on September 30th.
— BTCC (@YourBTCC) September 15, 2017
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 has made an official announcement on their customer service zendesk that they will be permanently shutting down “ on the 20th of September.
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.
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.