Bitcoin China CEO: The company is operating normally

According to foreign media reports on the 19th, Bobby Lee, CEO of China's major Bitcoin trading platform "BTCC", said on Thursday that the platform is operating normally and has stopped providing margin loans last week along with its competitors Huobi and OkCoin.

Li Qiyuan told foreign media that the company has not yet received any official documents from the People's Bank of China.

On January 11, a joint inspection team composed of the Shanghai headquarters of the People's Bank of China , the Shanghai Municipal Financial Office and other units conducted an on-site inspection of "Bitcoin China", focusing on whether the company was operating beyond its scope, whether it was illegally conducting credit, payment, foreign exchange and other related businesses, whether there was any market manipulation involved, the implementation of the anti-money laundering system and potential financial security risks.

The preliminary inspection found that the "Bitcoin China" trading platform had problems such as operating beyond its scope, illegally conducting margin trading, and failing to implement third-party custody of investors' funds. The Shanghai headquarters of the People's Bank of China reminded that institutional and individual investors should pay great attention to the risks and hidden dangers of the platform and safeguard their own property safety.