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BTC China has apparently ended a huge attraction point to their bitcoin exchange. The company is alerting customers that effective immediately, they are ending their 0% trading fee promotion. The bitcoin exchange — the world’s largest — will be reinstating a trading fee of 0.3% due to what they describe to be a “recent turbulent bitcoin market”.
The message in full:
Dear BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013
The news comes on the heels of rumors that transactions to the exchange will soon be banned, causing a drop in the price per bitcoin this Monday morning.
The 0% fee promotion was a greatly important factor in bringing BTC China to the very top of the exchange totem pole. With 50,000 bitcoins changing hands daily on BTC China, only time will tell how the reinstated fee will affect the eastern bitcoin market, if the regulations don’t affect it first. (via ounce.me)
