BTC China CEO Attempts To Calm The Bitcoin Market After RMB Deposit Shutdown


In a letter posted on the Chinese bitcoin trading site BTC China CEO Bobby Lee attempted to calm the markets by posting a long, detailed description of the way forward for the company. “As China’s first Bitcoin and Bitcoin trading platform company, we have more than two and half years of operating experience and a good reputation,” he wrote. “I believe you love Bitcoin and will fully understand our decision.”

Lee also clarified that the ban on RMB deposits is temporary and that the People’s Bank Of China saw bitcoin markets as similar to any commodity market and that “ordinary people have the freedom to participate in them at their own risk.” He also announced a number of improvements and changes to the platform aimed at retaining customers.

The company announced a new product called “Currency Lock” that stores bitcoin in “cold storage” with “bank-level” security. Commentators see this as a…

View original post 138 more words


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s