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Sources Claim PBOC Confirmed irregularities of China’s Major Exchanges

OKcoin and Huobi: unauthorized margin trading service and lack of  internal control for AML

According to beijingnews, PBOC Beijing will soon release an announcement that PBOC now has found irregularities of Okcoin and Huobi including unauthorized margin trading, which has caused abnormal volatility in trading market, and a lack of  internal control for anti-money laundering.

When interviewed by 8btc exclusively, Okcoin said:

the inspection results should refer to the official announcement of PBOC. Okcoin has stopped the margin trading service and will complete its internal control for anti-money laundering purpose according to the requirements of laws and regulations. The inspection will be over before this Friday.

BTCC: unauthorized some businesses, lack of third-party custodian, unauthorized margin trading service

According to CCTV, PBOC shanghai will soon release an announcement that PBOC shanghai now has found irregularities of BTCC including unauthorized operating some certain businesses unauthorized leveraging services and lack of secure custody of investors’ funds,

PBOC shanghai and Beijing began to carry out on-site inspection in BTCC,Okcoin and Huobi. The inspections will be over  most likely before 20th, January, Friday.

BTCC has made an announcement in the post on 8btc forum:

BTCC will cooperate with PBOC closely for the inspection and will correct irregularity. Now BTCC is running normally.


Irregularities instead of illegal behaviors.

Insiders believe all three exchanges have unauthorized margin trading service and lack secure third party custodian. Huobi has been criticized most for its unstable operating network, BTCC for fake trading volume and OKcoin for its wide-spread offline promotion activities. But as 8btc repeatedly says Chinese’s official rhetoric is subtle, Fines or suspension instead of “crackdown”  will most like the final results when irregularities instead of illegal behaviors are .Till now PBOC has yet released official announcements.

see our article Why PBoC’s Inspection of Exchanges Matters for Bitcoin Trading to be Better and  Analysis: PBOC Possible Stepping in as a Third-party Custodian for Bitcoin Exchanges is Good news as 8btc’s view on PBOC ‘s move.


  • BitcoinAllBot
    7 years ago BitcoinAllBot

    Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: 8btccom

  • blockchainera
    7 years ago blockchainera

    LOL. Good news. short-sellers, pure speculators who only use margin trading can go way. PBOC had better set some license system then Bitcoin trading will be much more safe.

  • traceability
    7 years ago traceability

    Bitcoin now becomes house-hold name now. Interestingly, China speaks highly of Blockchain amid its efforts in being harsh on Bitcoin exchanges. It shows China is really serious about digital currency. I get used to any sudden move from PBOC. Good “breaking” is not used any more.

  • SnapshillBot
    7 years ago SnapshillBot

    Sorry, this is just my opinion. I have no research to offer other than my short time following the community, my experiments with other investments, and my inumberable conversations about Bitcoin with skeptics.


    This Post –,,*

    I am a bot.(Info/Contact)

  • florbagast
    7 years ago florbagast

    Translation: exchanges were operating in a legally gray area without beimg fully compliant.

    Bitcoin has become big enough that now the Chinese exchanges have drawn gov scrutiny. Bye bye fake volume

  • HodlDwon
    7 years ago HodlDwon

    Excellent! Get rid of that shady shit!

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