China's bitcoin and cryptocurrency exchanges have received instruction that they will need to voluntarily shut down by September 15.
According to both leaked documents and statements from local exchange executives, issued on condition of anonymity, China’s regulators have now issued verbal directives indicating how they expect the businesses to wind down operations due to the fact that they are operating domestically without a formal license.
A document leaked on Chinese social media, translated below, lists a series of steps the exchanges must undergo during that closure. While not received directly by exchange executives surveyed, the document is reportedly consistent with verbal guidance.
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