People’s Bank of China Holds Meetings with Big Chinese Bitcoin Exchanges

The investigations of the Chinese central bank into the country's 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 trading industry are not letting up. The People’s Bank of China is said to be holding meetings with the leading Chinese bitcoin exchanges today, this according to a report by Bloomberg.

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The exact nature of the meetings, their topics and the extent of the closed-door talks is not made public yet. However, officials from the Chinese central bank are reportedly talking about money laundering today with representatives of the venues, among other issues.

Despite some fluctuations, the price of bitcoin remains strong today with the USD/BTC 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 rate at over $1035.

Background

The biggest story about bitcoin trading since the start of 2017 is the changing environment in China. Chinese exchanges, long the most active venues in the world, have been revealed to be under investigation by the central bank. This is leading them to halt margin trading and impose fees, dropping the model that made bitcoin trading so popular in China.

As a result CNY trading volume now averages less than 30% of the global market, down from complete dominance at 98%. And JPY volumes are now over 30% as Japanese bitcoin exchanges have picked up most of the market share lost by the Chinese.