Chinese Bitcoin Exchange BTCC Stops Withdrawals for a Month
Major Chinese exchange BTCChina has announced the suspension of bitcoin and litecoin withdrawals. In effect, all of China’s ‘big 3’ bitcoin exchanges have now enforced a month-long suspension of cryptocurrency withdrawals. The suspension will last until March 15th as the exchange underlines the move as a compliance measure after the central bank’s crackdown against bitcoin exchanges in the country continues. In an announcement on its homepage, the bitcoin exchange underlines the same reasons offered by the two other major exchanges in OkCoin and Huobi, both of whom suspended withdrawals a....
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While these issues affect centralized exchanges, peer-to-peer trading continues to soar. It appears as if Chinese bitcoin exchanges are dealing with more withdrawal delays right now. A recent post on Reddit shows an email sent out by BTCC explaining they are upgrading their verification system. Bitcoin and Litecoin withdrawals have been suspended until March 15. That is quite surprising, although it highlights a bigger problem for the exchange. Changing from a 10-day delay to a full month is rather disconcerting. Most people are aware of how BTCC imposed a 10-day delay on cryptocurrency....
China’s biggest Bitcoin exchange BTCC has announced it will halt cryptocurrency withdrawals until March 15 as it moves to comply with regulatory standards. In line with other major Chinese exchanges such as Huobi and Okcoin, BTCC is working on what it describes as “upgrading its inspection and verification system.” It promised that withdrawals would immediately resume once the process had completed and that users would be informed. Withdrawals in yuan remain unaffected. A circular sent to users Wednesday reads: “BTCChina will continue upgrading its inspection and verification system for....
China’s ‘big three’ bitcoin exchanges have all released statements confirming that bitcoin withdrawals will only resume following approval by regulators, as the platforms reinforce their infrastructure to comply with AML and regulatory requirements. It was a month ago when OkCoin and Huobi, two of China’s ‘big three’ exchanges paused withdrawals of bitcoin in the face of regulatory pressure from the People’s Bank of China. A week later, the other big exchange, BTCC, followed suit and halted withdrawals for a month. In separate but entirely identical statements today, all three bitcoin....
Shanghai-based bitcoin exchange BTCC has announced that it will halt bitcoin and other cryptocurrency withdrawals for one month. The news, posted to its website today, comes one week after Huobi and OKCoin, two of the country's 'Big Three' exchanges alongside BTCC, revealed they would prohibit cryptocurrency withdrawals as part of an effort to combat money laundering at the request of China's central bank. At the time, BTCC said it would undertake a similar upgrade, but that it would only take 72 hours to complete. According to the update, however, BTCC plans to continue the audit of its....
BTCC, a major Chinese Bitcoin exchange, recently launched a new USD-to-Bitcoin exchange. Upon its successful US debut, the company announced its support for Ethereum Classic over ETH. On July 26, the Ethereum development team completed its hard fork to protect investors against the DAO attack. Almost immediately after the hard fork execution, Ethereum Classic emerged, to maintain the original governance model of Ethereum. Leading Bitcoin exchanges, including Kraken and Bitfinex, have supported both Ethereum Classic and Ethereum since, considering large market caps of both ETC and ETH.....