BTCChina exchange to stop trading on 30 September

Your Bitcoin Company (BTCC) has announced that its Chinese bitcoin exchange, BTCChina, will stop trading at the end of the month.

“After carefully considering the announcement published by Chinese regulators on 4 September, BTCChina Exchange will stop all trading on 30 September,” it announced.

Other products from it, including BTCC Pool, are not affected by the change.

Cofounder Bobby Lee told Reuters that trading on their international exchange would also not be affected.

Reuters reported that BTCChina’s main rivals OkCoin and Huobi declined to comment on whether they would shut down operators in China.

News of the closure of BTCChina follows reports that the Chinese government plans to ban cryptocurrency exchanges.

The reports have sent the price of Bitcoin plummeting, with the cryptocurrency at $3,500 at the time of writing.

Now read: Bitcoin is a fraud that will blow up

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BTCChina exchange to stop trading on 30 September