After a week of endless rumors from China, starting with the original announcement on Caixin calling the "end of exchanges in China", the rumors have become a reality when it comes to BTCChina. BTCChina has announced today that they will stop all trading on BTCChina (The chinese version of BTCC) on the 30th of September.
https://twitter.com/YourBTCC/status/908285586368167936
- YourBTCC
The reason they gave for the was the Sept 4 announcement - the ICO ban. This means no additional announcements have been made from the government regarding closing exchanges. It might be that they are announcing the end of trading as a precaution, or they might be in contact with different government departments and cannot disclose the details. OKCoin and Huobi PR said they have not received notice from regulators and are operating normally
Cashing Out:
Immediately after the announcement, there was a flurry of trade activity on BTCC, with the price of Bitcoin falling to as low as $2600 USD. Currently prices on BTCC are around $450 USD cheaper than the international price.
Other Exchanges:
It seems like OKCoin and Huobi are meeting up with regulators today, so we might see some news coming out of the other exchanges as well. There are rumors that BTCC was hit harder because they started their own ICO coin which they have already shut down.
https://twitter.com/SatoshiLite/status/908375715279597570
- SatoshiLite
Binance: Service for international exchange not affected. Chinese not allowed to trade since sept 6th
Yunbi: Rumored to shut down in 3 months
*Updated 15th September. Added information about possible meeting between OKCoin / Huobi with regulators.