China’s central bank is currently monitoring and assessing the Chinese exchanges Huobi, Okcoin, and BTCC according to a press release from the institution. The news follows last week’s announcement that these regulatory assessments would be taking place. Reuters details the bank is looking into capital flight and anti-money laundering practices amongst other discussions like “market manipulation.”
“The People’s Bank of China Shanghai headquarters, the Shanghai Municipal Finance Office and other units to form a joint inspection team on Bitcoin China are carrying out on-site inspections,” explains the PBOC press release. “Focusing on checking whether the scope of the enterprise beyond the scope of the market, operation, whether or not without a license to carry out credit, payment, exchange and other related business; whether there is market manipulation; anti-money laundering system implementation; financial security risks and so on.”
According to the press releases originating from Shanghai and Beijing, the inspection is merely a typical regulatory oversight. The bitcoin exchange BTCC has been the most vocal
about the situation once again reaffirming the meetings were nothing to worry about
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