BTC China (BTCC) will suspend trading on September 30, 2017. - BlockMedia.com
One of the largest Bitcoin exchange in China is closing soon. This will be a huge impact in cryptocurrency and soon after we will see a continuous drop of Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and other cryptocurrency.
"BTC China is based in Shanghai, the world's second largest bitcoin exchange by volume as of October 2014. Founded in June 2011, it was the China's first bitcoin exchange, and most of it's customer are thought to be Chinese." Wikipedia
BTCC is fifth largest Bitcoin exchange in the world by trading volume according to CoinMarketCap, and third in China behind OKCoin and Huobi.
As of writing this article, there is no update from their website though BTC China tweet this today.
So if you're using BTCC exchange services, it is highly recommended that you withdraw your token as soon as practical.
Do we expect to see OK Coin and Huobi exchange closing their trading exchange door soon? We will find out soon.
Source: https://que.com/btc-china-btcc-will-suspend-trading-on-september-30-2017/
NOTE to cheetah bot: I first published this article for http://BlockMedia.com Report - https://que.com/blockmedia website.
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I wonder if this will have that much of an impact. Won't most people just switch to one of the other two excanges or pick up on another exchange all together? Even if China bans trading cryptocoin to fiat it will be interesting to see what the punishment will be. Even if trading crypto to fiat becomes illegal as more and more stores/commerce is done in crypto it makes trading crypto to fiat even more obsolete.