First release | The central bank wants to enhance the international influence of Chinese Bitcoin. Bitcoin China will waive transaction fees for USD transactions starting March 1

Editor's note: Domestic Bitcoin transaction fees will continue to be charged.

According to Ostrich Venture Capital Media (WeChat: wechuangye), foreign media reported that Bitcoin China (BTCC), one of the three major Bitcoin trading platforms in China, will launch a new preferential policy on March 1, and Bitcoin transactions based on US dollars will be free of transaction fees.

BTCChina said that starting from the beginning of next month, it will stop charging both parties of transactions on BTCC.com, the international version of BTCChina’s bitcoin exchange. However, the handling fee will continue to be charged on the domestic version of BTCChina.com.

BTCChina representative Tendai Musakwa said in a statement that the promotion was a strategic move to beat competitors and expand the international influence of the BTCChina exchange. Musakwa said:

We are now more focused on business development, which includes learning how to gain industry experience in operating a Bitcoin trading platform over the long term.

Although the promotional activities launched by Bitcoin China this time do not involve the domestic Bitcoin trading market, it is generally considered a "good" surprise. Because the central bank's Bitcoin policy seems to have changed recently, and the new regulatory requirements have also brought a lot of pressure to the market. Ostrich Venture Capital Media (WeChat: wechuangye) recently reported that the People's Bank of China has once again convened the three major domestic Bitcoin trading platforms to curb capital outflows .

In fact, since January this year, the People’s Bank of China (PBoC) has begun to pay more attention to the Bitcoin market, and many domestic Bitcoin trading platforms, including Bitcoin China and its competitors, have made a number of operational adjustments accordingly . However, these measures have also triggered a "butterfly effect", and the business share of Chinese Bitcoin trading platforms in the international market has also begun to decrease.

However, strengthening the supervision of Bitcoin will bring more benefits than disadvantages to the entire industry. Only by creating a good market environment can the positive development of the entire industry be promoted.