China/law image via Shutterstock
Echoing statements made by BTCC CEO Bobby Lee, Xu also expressed his hope that the dialogue, and the increased public awareness of it, could improve the regulatory environment for bitcoin and digital currencies.
"This was simply an idea suggested for discussion and to continue dialogue on enhancing consumer protection and fostering healthy, long-term growth of the industry," he said.
According to CoinDesk Research, China-based trading accounted for 95% of all bitcoin volumes in the third quarter of 2016.
In statements, CEO Star Xu said that rumors that the People's Bank of China may enact a "third-party platform" to improve exchange security are based on real discussions, but that this dialogue remains theoretical and in its early stages.
Following similar comments by fellow bitcoin exchange BTCC, OKCoin indicated today that it is open to increased oversight from the Chinese government or central bank.
Data from Bitcoinity indicates OKCoin is currently the second-largest bitcoin exchange for CNY bitcoin trading, trailing only BTCC in seven-day volumes.
"The industry can benefit from balanced, risk-based regulation and oversight and we look forward to further constructive discussions with the regulators and industry participants."
Xu noted that the idea would enhance consumer protection by using techniques already in practice at stock exchanges and in peer-to-peer FinTech platforms.
Another Police Official Arrested In Alleged Bitcoin Extortion Plot
Yet another high-ranking police official in the Indian state of Gujurat has been taken into custody in connection with a $1 million bitcoin extortion scheme.
According to the Hindustan Times, Amrel
Bitcoin Price Climbs to 40-Day High Above $9,200
Bitcoin's price climbed above $9,200 on Tuesday to hit a 40-day high, according to data from CoinDesk's Bitcoin Price Index (BPI).
Following a steady increase over the past week, the price of world
Cboe Exchange Wants to Lower Its Bitcoin Futures Prices
The Cboe wants to change the way it prices bitcoin futures contracts, a move that comes just months after the exchange operator first debuted its inaugural cryptocurrency product.
In a newly publis
California Bill Would Legally Recognize Blockchain Stocks
California could become the next U.S. state that allows companies to store data - including information about stockholders - on a blockchain.
Bill 838 was first introduced by Senator Robert Hertzbe
Amber Baldet: Blockchain Alone Isn't A Privacy Cure-All
Blockchain "maximalism" will not solve internet privacy concerns, Amber Baldet said on Monday.
The former JPMorgan blockchain lead made the comments during a talk on the "Internet of Value" and del
$125 Million: Orchid Is Raising One of 2018's Biggest Token Sales
Orchid Labs is raising $125 million in a SAFT sale, filings from the Securities and Exchange Commission (SEC) reveal.
According to a Form D published on April 20, Orchid has raised roughly $36.1 mi
Coinbase-Cryptsy Lawsuit Will Head to Jury Trial
Coinbase has lost another appeal in a lawsuit brought by former customers of the defunct cryptocurrency exchange Cryptsy, and the case will now proceed to a jury trial.
An appeals court in Georgia
Softbank Wants to Cut Carbon Emissions with Green Energy Blockchain
In bid to reduce carbon emissions, a group of Japanese technology and energy firms is launching a pilot project aimed to allow consumers in rural areas to trade renewable energy over a blockchain-base