BTCC Permanently Suspends BTC and LTC Withdrawals Until March 15
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....
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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....
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....
On July 4, the crypto lending company Vauld announced it suspended withdrawals, trading, and deposits after disclosing the firm is “facing challenges.” While not naming any specific companies, the Singapore-based cryptocurrency lending platform and exchange mentioned “financial difficulties” stemming from “key business partners.”
Vauld Suspends Withdrawals Over ‘Financial Difficulties’
During the last 30 days, a number of cryptocurrency lending platforms have revealed that their finances are not very sound. For instance,....
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