Top Chinese Bitcoin exchange BTCC announced Thursday they will suspend trading by the end of the month, after “careful consideration” of an announcement published by regulators earlier this month.
1/ After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange will stop all trading on 09/30.
— BTCC (@YourBTCC) September 14, 2017
The move comes after reports late last week that authorities were ordering all Chinese exchanges to suspend trading, sending the cryptocurrency into a slide. Yuan-denominated Bitcoin plummeted again this week after the BTCC decision by as much as 35%.
TechCrunch is reporting, citing confirmation from two sources, that authorities have visited a number of top exchanges to instruct that they cease trading, but that a hard deadline has not been given.