BTC China Set to Put the Pedal to the Metal Again as Bank Transfer Back Online

First posted by Reddit users and then confirmed by CoinDesk, BTC China’s customers are being provided the option to deposit in Chinese yuan once again. The leading Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term had issued an announcement to customers in December that it was temporarily halting yuan denominated deposits as well as increasing commissions. At the time, the company called it a ‘temporary’ halt, but as the actions were caused by restrictions by their payment processing firm in orders from China’s Central Bank (PBOC), there was little clarity as to when or whether yuan deposits would return. In the interim, the exchange had created a voucher system where users could purchase deposit vouchers from vendors around China.

In a statement to CoinDesk, BTC China CEO, Bobby Lee, expressed that the PBOC’s rulings towards financial institutions not accepting bitcoins remains intact. However, he explained that bitcoins were never banned by the PBOC and they are free to be sold between Chinese citizens. As a result, Lee believed that BTC China doesn’t fall under the category of banks that are prohibited from establishing Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchanges. Based on that, the firm has reopened its corporate account to allow for yuan denominated deposits from customers.

On the news, prices of bitcoins have rebounded somewhat from earlier weakness today but continue to be below their highs from Monday. Currently, prices of BTC/USD are being quotes on BTC-e at $783, after trading as high as $830 earlier in the week. But, they remain clearly above today’s low of $757.