ACCC intervenes in bitcoin-bank dispute

Bitcoin prices traded at high levels in the Asian session on Tuesday (October 20), basically maintaining their strong performance after yesterday's rally.

     The quotes released by BITSTAMP showed that Bitcoin/ US dollar (XBT/USD) rose from the 260 level yesterday and approached the 266 line. It traded at around 264 at the high point of the Asian session this trading day.

(Bitcoin/US dollar time-sharing chart Source: Bloomberg, FX168 Financial Network)

     The quotes released by KRAKEN show that Bitcoin/ Euro (XBT/EUR) soared from the 228 level to above 235 yesterday. It fell slightly in the Asian session of this trading day, but still traded above the 232 level.

(Bitcoin/Euro time-sharing chart Source: Bloomberg, FX168 Financial Network)

     The quotes published by Huobi.com show that Bitcoin/ RMB fluctuated between 1710 and 1747.70 yesterday, which is different from the Bitcoin price in USD and EUR. However, the Asian session of this trading day was also higher than 1749.

(Bitcoin/RMB 30-minute chart Source: Huobi.com)

     On the industry front, the Australian Competition and Consumer Commission (ACCC) confirmed that it is investigating the closure of bank accounts of a number of Bitcoin companies by some banks.

     It is reported that in the past period of time, some Australian banks have closed the bank accounts of 17 Bitcoin companies. The ACCC will investigate the incident to determine whether there is any anti-competitive behavior.

     "The investigation is ongoing but we are still in the early stages of the investigation," ACCC chairman Rod Sims said. "We have interviewed some bank representatives and gathered some information."

"We are asking the banks to explain why they took these actions and how they are linked," said Rod Sims.

     At 12:00 Beijing time on October 20, Bitcoin/USD was 264.41, Bitcoin/Euro was 232.41, and Bitcoin/ RMB was 1741.50.