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January 24, 2017

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Pay a fee to trade Bitcoin from today

CHINA’S three largest Bitcoin exchanges said they will charge trading fees effective today.

BTCC, Huobi and OkCoin said in separate statements that they will charge traders a flat fee of 0.2 percent per transaction.

Each of the statements said assessing fees will “further curb market manipulation and extreme volatility.”

The absence of trading fees has encouraged volumes and boosted demand at Chinese Bitcoin exchanges.

The Bitcoin price soared to near-record highs in the first week of this year, drawing attention from Chinese regulators. During 2016, the yuan fell 6.6 percent against the US dollar, its worst performance since 1994.

On January 11, the People’s Bank of China launched spot checks on BTCC, Huobi and OkCoin to look at a range of possible rule violations.


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