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Chinese regulator released the first inspection results

Chinese regulator released the first inspection results

The People's Bank of China has reported the first results of the inspection of cryptocurrency exchanges, informs CoinDesk.

Inspectors have revealed a number of violations in the operations of some companies, including BTCC, Huobi and OKCoin. The central bank believes that the actions of these exchanges could influence sharp fluctuations in the price of Bitcoin.

Besides that, according to the central bank, these exchanges were engaged into money-laundering operations.

BTCC exchange has confirmed the fact of inspections. Platform representatives said that they were ready to collaborate with the regulator and to eliminate the identified deficiencies.