China’s OKCoin has announced they will halt OTC trading services come April 10th. That is an unexpected change, although it appears this is another change as a direct result of the recent PBoC AML requirements.
The regulatory landscape is changing in China, which results in quite some new and forceful changes. Various exchanges have had to suspend margin trading. Virtually all platforms have halted cryptocurrency withdrawals for Chinese customers, yet it does not appear to affect the bitcoin price in a negative manner. The suspension of OTC trading is expected to have little effect as well, although one never knows how markets will respond.
According to a source from the region who told Bitcoin.com, new rules have been applied for certain Chinese exchange withdrawals. It seems some exchanges are allowing withdrawals with no official announcements. Their correspondent also explains that withdrawing from BTCC now requires ID card and video verification.
Bitcoin trading carries on
Bitcoin charting website CoinSalad.com shows Bitcoin trading across the top Bitcoin exchanges on the market. As pictured in their chart, trading has been consistent across Bitcoin exchanges, such as Bitfinex, GDAX, Bitstamp, BTC-e, and many others.
Although the climate in China for Bitcoin trading is changing, as they say, the Bitcoin honey badger doesn’t care.