On reports that the Chinese authorities plan to ban exchange trading operations with cryptocurrencies, the main cryptocurrencies are traded with a serious discount on the Chinese exchange platforms.

So, as of 12 September, the bitcoin rate on par with the Chinese Yuan is trading at $4,044 on OKCoin, at $4,050 on Huobi, and at $4,080 on BTCC. At other exchange platforms, registered in other jurisdictions, the bitcoin price fluctuates around $4,300. Thus, bitcoin is trading on average with a discount of 6-7% on the Chinese crypto-exchanges.

This discount is due to the fact that traders fear that the information about a possible ban on trading platforms in China may come true. Reports of such intentions of the Chinese Government appeared earlier in several prominent Chinese and US-based news agencies and newspapers, including Bloomberg, MarketWatch, The Wall Street Journal.

China's plans to prohibit cryptocurrency exchanges was first disclosed by the Chinese news agency Caixin, known for having ties to insiders in the Chinese Government. So, it was Caixin who was the first to release a series of materials about the participation of a relative of the head of the Chinese special services Zhou Yongkang in the corruption scheme. Yongkang was considered one of the most powerful Chinese officials, but in 2014 after a series of publications in Caixin he was arrested and charged with corruption. During the previous 28 years, none of the committee members under the Chinese Politburo were under investigation.

Caixin also issued inquiries about a large Chinese holding company Angbang and its owner, the billionaire Wu Xiaohui, before he was detained by the Chinese authorities on suspicion of illegal activities. Also, two days before the official announcement, in September 2017, Caixin published an article, which discussed the legitimacy of Initial Coin Offerings as methods of attracting financing.