BTC China Dismisses PBOC Fears in Open Letter
04 April, 2014
Shanghai-based exchange BTC China has published a statement reassuring Chinese investors that its operations will resume as normal despite looming regulatory uncertainty.
The People’s Bank of China (PBOC) is widely expected to issue a public notice later this month, which would effectively put an end to bitcoin-related money transfers in China, including yuan deposits. The rumoured notice is expected to go official on 15th April.
However, since nothing is official yet, there is plenty of misinformation floating around. In turn, the spread of PBOC-related fear, uncertainty and doubt has been blamed for the latest price slump.