BTCChina other Exchangers to go down latest October

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China’s second largest cryptocurrency exchange company BTCChina has announced it is shutting down on Sept. 30.

In tweets Thursday, the exchange, which also comprises an international arm BTCC, said the move was a direct result of Chinese regulatory statements.

Also going down  OKCoi and Huobi are going down, this is connected with China clamping down on exchangers, and stopping ICO’s from moving forward in China.

China put a freeze on its domestic initial coin offering (ICO) space, declaring it an illegal form of fundraising. Exchanges and other websites providing ICO-related services subsequently moved to accommodate the new rules amidst the fallout, with investors in previously held ICOs set to be refunded their money.

That move came months after regulators in China moved to impose new anti-money laundering restrictions on the country’s exchanges. In early 2017, the People’s Bank of China made waves when it was revealed that officials had met with the leaders of the country’s major bitcoin exchanges, followed by meetings with other representatives of the ecosystem and a months-long withdrawal freeze amid the upgrades.

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