China Bitcoin Exchange CEO: We’re Not Giving Up Yet

BTC-China20 Dec 2013 / AllThingsD – The largest bitcoin exchange in China, BTC China, is in peril after regulators in the country reportedly moved to block payment processors from accepting the virtual currency. The move leaves the exchange without a way to accept new Chinese yuan deposits and could lead to it shutting down.

In an interview with AllThingsD this morning, BTC China CEO Bobby Lee said his 30-person company hasn’t given up on keeping the exchange afloat. Lee said his Shanghai-based operation has been in talks with other payment processors about working with the exchange to reinstate Chinese yuan deposits, but hasn’t yet reached any agreements.

“Whether or not they’re told not to do business with us is something else entirely, because we’re not privy to that conversation,” he said. “The assumption is some of the past third-party payment processors have declined us because they’ve been told not to do it or suppose it’s high risk. But that’s only speculation.”….. Read more

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