The top three Chinese (OKCoin, Huobi, BTCChina) bitcoin exchanges halted margin trading last week in a bid to appease PBoC regulators. Over the weekend, OKCoin and Huobi also announced new trading fees of 0.2 per cent. BTCChina said the fees were aimed at reducing excessive volatility:
“To further curb market manipulation and extreme volatility, BTCChina will start charging fees for bitcoin and litecoin trading from 12:00 p.m. (noon) UTC+8 on Tuesday, January 24th.”Furthermore, BTCChina clarified that the trading fees will apply to both market makers and market takers. The new fee schedule applies to two digital currencies:
1/ BTCChina, our CNY exchange, will start charging fees for bitcoin and litecoin trading from 12:00 PM (noon) UTC+8, Tuesday, January 24th.— BTCC (@YourBTCC) January 22, 2017
Similar policies were implemented by OKCoin and Huobi on Sunday. Today, Chinese digital currency exchange Yunbi, which accounts for 0.85% of daily bitcoin turnover, according to data from coinmarketcap.com, also announced a 0.2% trading fee for bitcoin trading pairs.
The Yunbi bulletin states:
“To further prevent speculation and sharp fluctuations of Bitcoin prices. Yunbi will start charging Bitcoin trading fee from January 24, 2017 at 12:00 noon (UTC+8).”Unlike BTCChina’s fee schedule, Yunbi said it will only charge fees on bitcoin pairs, excluding litecoin and other blockchain assets.