China imposes cryptocurrency trading fee

China imposes cryptocurrency trading fee

Big Chinese exchanges are imposing a commission fee on digital currency operations. The rules become effective on January 24.

BTCC, OKCoin and Huobi platforms announced 0.2% fee.

Until recently, the main profit source of Chinese cryptocurrency exchanges were marginal trading and the operation fee was absent. However, platforms withdrew margin trading ten days ago because of the inspection results obtained by the national regulator.

Imposing fee can reduce the exchange rate volatility. This volatility was the reason of inspections made by The People's Bank of China.

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