The Phaserl


China Bitcoin Exchange CEO: We’re Not Giving Up Yet

by Jason Del Rey, All Things D:

The largest bitcoin exchange in China, BTC China, is in peril after regulators in the country reportedly moved to block payment processors from accepting the virtual currency. The move leaves the exchange without a way to accept new Chinese yuan deposits and could lead to it shutting down.

In an interview with AllThingsD this morning, BTC China CEO Bobby Lee said his 30-person company hasn’t given up on keeping the exchange afloat. Lee said his Shanghai-based operation has been in talks with other payment processors about working with the exchange to reinstate Chinese yuan deposits, but hasn’t yet reached any agreements.

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