Published on September 16th, 2017 | by bitcoin0
Main Bitcoin Trades in China Quit Local Exchanges- TechCrunch
The writing was on the wall when The Wall Street Journal reported on Monday that the Chinese government intended to shut down bitcoin exchanges after banning ICOs the previous week.
Government officials then began meeting with exchanges this week to bring about the trading suspensions, a source with knowledge of discussions told TechCrunch.
While the exchanges will no longer be allowed to facilitate the buying of crypto coins using Chinese Yuan and the trading of coins, they will continue to operate international-facing exchanges and other associated services.
As with all things bitcoin, it is difficult to be sure exactly why, but there are plenty of reasons.
Most importantly, China is no longer the dominant in bitcoin trader it once was.