What’s happening to Chinese Exchanges?
Michael Gu
September 6, 2017
After the announcement from the People’s Bank of China declaring ICOs to be illegal, there has been some uncertainty over the future of exchanges in China. There has been some confusion with regards to what will happen to ICO tokens and coins. (texasautotrim.com) There is also confusion as the what are the exact rules trading. This is a list of how exchanges are currently handling the situation:
YunBi
- Resumed Trading
- Delisted QTUM, GXS, EOS, ANS, DGD, 1ST, GNT, REP, SNT, OMG, PAY, LUN, VEN
- Resuming BTC, ETH, ZEC, SC, BCC, ETC, BTS.
- Froze Trade APIs
Binance
- Disabled ICO platform
- Disabled Chinese IPs from Trading!
- Refunded Tron Token
- Recieved VC funding – Binance received financial backing from Black hole Capital and Funcity Capital
- Reassured that Exchange will be fine (10am on Slack)
- RMB exchange
- Disabled “experimental” section, removing
- UGT , TIC , IPC , ELC , ICO , QTUM, HCC , BTM , ACT , BTK , EOS Removed
About Michael Gu
Michael Gu, Creator of Boxmining, stared in the Blockchain space as a Bitcoin miner in 2012. Something he immediately noticed was that accurate information is hard to come by in this space. He started Boxmining in 2017 mainly as a passion project, to educate people on digital assets and share his experiences. Being based in Asia, Michael also found a huge discrepancy between digital asset trends and knowledge gap in the West and China.