China's Central Bank Meets With More Bitcoin Exchanges

A number of smaller China-based bitcoin exchanges met with the country's central bank today, though details on the event are scarce.

AccessTimeIconFeb 8, 2017 at 1:03 p.m. UTC
Updated Aug 18, 2021 at 5:43 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

A number of smaller China-based bitcoin exchanges met with the People’s Bank of China in a closed-door setting today.

According to sources familiar with the matter, in attendance were exchanges that were previously absent from talks held earlier in the month, including Beijing-based Yunbi and BTC Trade.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Speaking with CoinDesk, BTC Trade confirmed its participation, while Yunbi would neither confirm or deny the report. Both declined to provide additional details about the discussion.

    According to Bloomberg, a source said that money laundering was on the agenda, as it was in prior talks.

    Reportedly not in attendance were representatives from China’s three largest exchanges BTCC, Huobi and OKCoin, all of which met with the central bank earlier in the month to discuss practices and policies. BTCC, Huobi and OKCoin all confirmed they were not in attendance at the meeting.

    At press time, the price appeared to dip slightly on the news, possibly on fears China may take further action to rein in its local bitcoin market.

    The move follows a migration of China’s bitcoin trading volumes to exchanges that largely still offer no-fee bitcoin trading, a policy dropped by major exchanges at the request of the central bank earlier this year.

    PBOC image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.