Chinese Bitcoin Miner HaoBTC is Shutting its Exchange after PBOC Measures

The still-ongoing fallout of events spurred on by the People Bank of China’s (PBOC) involvement in the country’s bitcoin trading market has led to HaoBTC – a bitcoin company known prominently as a mining pool – to shut down its lesser-known bitcoin exchange operation, launched in April 2016.

HaoBTC was among the 9 bitcoin exchanges held to a closed-doors meeting by the PBoC on Thursday.

A miner operating with 110 Petahash to control a little over 4% of bitcoin’s network, HaoBTC has announced the removal of its exchange service to its users. The mining pool, which also launched a Hashrate Exchange in December will also stop deposits of RMB into users’ accounts. The bitcoin company’s wallet service, mining pool and hashrate exchange will remain unaffected.

A loosely translated statement explains:

Given the fact that the prospect of a regulatory policy for a bitcoin exchange isn’t clear yet and to ensure that the majority of users use our Wallet function like always, we have, after deliberation, reluctantly decided to remote the Exchange from our Wallet

Read more ... source: CryptoCoinsNews

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