China-based bitcoin exchange Huobi has announced another update to its trading fee policies today.
Huobi had previously offered both services without trading fees.
Fees, the exchange said, will be calculated daily at 13:00 local time, and it detailed how fees would be exacted from customers and in which digital and fiat currencies.
Founded in 2014, BitVC is notably a Hong Kong-based entity originally founded to offer margin trading services. (Early users were able to borrow up to 200% of the value of their assets).
As such, the move perhaps signals that China’s bitcoin exchanges will move to enforce trading fees – even in subsidiaries outside of the country. Sources close to exchanges had previously expressed a willingness to keep lower fees in these markets.
The announcement comes as the global bitcoin markets continue to adjust to the change in policies at China’s three largest exchanges, three of the largest by volume in the world.
At press time, volume figures were down across all three exchanges, though the price remained largely unchanged, continuing to hover around $900 as it has in recent sessions.
Image via Huobi