Bitcoin exchange BitBays ceases operation and migrates accounts to MixCoins. MixCoins, owned by the same folks running BitBays is a global bitcoin exchange where people can easily buy, sell, and invest in cryptocurrency in a secure environment. Beijing-headquartered BitBays, one of the smaller but popular bitcoin exchanges founded in October 2013 in China has left a cease operations notice on their website and has informed clients they have migrated to MixCoins.com.
The company notified that due to “the new regulatory changes led by China’s central bank (regarding ICOs) the British registered company BitBays decided to take a pre-emptive step and cease operations of its digital asset exchange ‘Bi Bei Wang’ in China.
Due to the Chinese ICO ban, blockchain projects based outside of China will no longer be looking to reach investors based in mainland China, and since platforms such as BitBays list a variety of tokens of ICOs they will also stop their mainland exchange business.
Clients were told by the BitBays team “we are very sorry for the inconvenience. To learn more details or to withdraw your funds, please contact the official customer service.”
Although no longer servicing mainland Chinese customers, the exchange has migrated its clients (non-Chinese) to https://mixcoins.com, the company said that all data and funds are safe and China-based users are still able to use their BitBay account to log in and see their funds, but, no trading or exchanges will be allowed. The British registered BitBays is in legal compliance with FATCA, FinCEN, and MSB.
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