BTC China Restores Deposit Facility

The biggest Bitcoin exchange company in China and probably the world has now restored the deposit facility allowing Chinese customers to buy Bitcoin by making their payments to the company’s corporate bank account, in Yuan.

This represents the first time deposits are allowed since a December decision made by the company to halt all deposits. This decision was made in response to a memo from the People’s Bank of China in which warnings to financial institutions was issued, to not trade in Bitcoins. The removal of deposits in China was mirrored by a drop of over 50% in international Bitcoin prices in December.

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