China’s Bitcoin trading platform BTCChina to stop trading

China Central Television (CCTV)- One of the largest Bitcoin trading platforms in China, BTCChina, announced on Thursday that it will stop all trading from September 30.

The announcement said that it stopped new account registration from Thursday. And the company said that its mining pool business will not be affected.

The move came after the relevant Chinese authorities on September 4 imposed a ban on Initial Coin Offerings (ICOs), a nascent form of fund-raising in which technology startups issue their own digital coins, or “tokens”, to investors to access funds as the rapidly expanding market spawned concerns over financial risks.

More than 30 such platforms in China have started to refund to investors.