China’s Biggest Bitcoin Exchange Unable to Take New Deposits
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BTC China, the nation’s largest Bitcoin operator, stopped accepting customer deposits amid a central bank clampdown on use of the digital currency, sending prices plunging as much as 35 percent.
YeePay, a third-party payment provider, gave notice today that it would no longer provide deposit services to the company, Bobby Lee, BTC China’s chief executive officer, said in a phone interview. TenPay, a payment provider owned by Tencent Holdings Ltd., also halted business, Lee said. Bitcoin traded as low as 2,551 yuan ($420) on BTC China from as high as 3,918 yuan before the company announced the suspension on its official microblog.