China’s Bitcoin Exchanges Impose Fees Following Central Bank Meeting

The era of no-fee trading in China appears to be over.

Following in the footsteps of China’s ‘Big Three’ exchanges, smaller competitors BTC Trade, BTC100, CHBTC, Dahonghuo, Yuanbao and BitBays all moved to impose or increase trading fees yesterday in the wake of a meeting with the People’s Bank of China, China’s central bank.

Both BTC Trade and CHBTC said that the fees would come into force on 13th February, whereas the other exchanges did not identify a starting date. Further, with the exception of BTC 100 and BitBays, the exchanges all moved to add 0.2% maker and taker fees.

BitBays is now charging 0.1% maker fees and 0.15% taker fees, while BTC 100 announced that it would begin collecting trading fees, without adding details. Yunbi, in turn, announced a reduction in trading fees two days ago, dropping its trading fees from 0.2% to 0.05%.

It was not immediately clear at press time whether Jubi – another of the exchanges to meet with the PBoC – had made a similar move.

The developments come on the heels of a new warning from the PBoC to domestic bitcoin exchanges about

Read more ... source: CoinDesk

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