Huobi’s BitVC is going to close CNY spot and USD spot trading at 12:00 April 1st (GMT+8) due to company business adjustments. And they ask clients to convert fiat asset into bitcoin or litecoin and return margin before 12:00 April 1st. Does this mark another round of tough policies on margin trading by PBOC?
Here is the news:http://news.8btc.com/huobis-bitvc-going-to-close-cny-spot-and-usd-spot-trading-at-1200-april1st
Could they not just add Tether and do away with Fiat?
Using Fiat on an exchange seems to be troublesome with regulators, it makes they a constant switch point between crypto and fiat, which is the tax point and the normal point of regulation.
There must be a CNY tether available too, if they use that, then they can massively reduce the amount of cash trading they have, the PBOC will be happy and we will be happy!
Published at Fri, 31 Mar 2017 09:06:42 +0000
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