China to Close its Second CryptoExchange
Main page News, Cryptocurrency, China, Bitcoin
Hot topic
15 September
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“Please make sure to withdraw all your assets including CNY and cryptocurrency before September 30th, after which ViaBTC website www.viabtc.com will be officially closed in Mainland China,”

states the announcement published on ViaBTC website, Friday.

Chinese bitcoin trading platform ViaBTC will become the second exchange after BTCChina to shut down operations amid an ongoing crackdown on cryptocurrency industry.

Shenzhen-based bitcoin (Bitcoin) and cryptocurrency exchange ViaBTC has confirmed the closure of exchange operations in Mainland China on September 30.

As per the arrangements toward shuttering its exchange operations, ViaBTC will halt “registration, asset deposits and all trading pairs” on September 25. Eventually, the website will also be closed on September 30.

ViaBTC’s mining pool and cloud mining services for the public will not be impacted and will continue to operate, the exchange confirmed.

ViaBTC further told users:

“Due to bank system time limits, CNY withdrawals on non-work days will be postponed for processing till the next work day. Cryptocurrency withdrawals won’t be affected by this. If you haven’t found a reliable wallet for your coins yet, we recommend you to withdraw your crypto assets to our mining pool (pool.viabtc.com) wallet. We will guarantee 100% safety of all your assets.”

ViaBTC CEO Haipo Yang first speculated the possibility of a sweeping ban of all exchanges a week ago on Friday, amid rumors that authorities and regulators are extending the ban on all ICOs (initial coin offerings) to cryptocurrency exchanges.

On Tuesday, Yang stated that ViaBTC would not shut down and will only stop deposits and trading activities if mandated to do so.

With its announcement, ViaBTC becomes the second major Chinese bitcoin exchange to close operations following Shanghai-based BTCC, the world’s oldest bitcoin exchange, taking the decision to suspend trading by the end of the month.

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