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In significant news coming out of China, one of the country’s “big three” exchanges, BTCC, has announced it will stop trading of cryptocurrencies this month.

Shanghai-based BTCC wrote on social media:

After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina will stop all trading on 09/30.

The cryptocurrency exchange, one of the earliest trading platforms in China and the world, added that other products and services, including mining operation BTCC Pool will not be affected by the change.

On September 4, the People’s Bank of China, China’s central bank, announced a sweeping blanket ban on all initial coin offerings (ICOs), a radical new form of fundraising facilitated by cryptocurrencies.

Developing…Stay tuned.

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Posted by Samburaj Das