Two of China’s Biggest Exchanges Stop Bitcoin Withdrawals

 

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Two of China’s most widely used bitcoin exchanges have announced that they will suspend bitcoin and litecoin withdrawals for one month effective immediately.

In public posts that showcase the increasingly coordinated nature of exchange policy in the region, both OKCoin and Huobi said today that the move was a bid to bolster their anti-money laundering (AML) capabilities and prevent “illegal transactions”.

Both OKCoin and Huobi indicated that their platforms would now go through an “upgrade” to combat “money laundering, exchange, pyramid schemes and other illegal activities”.

BTCC, the other ‘Big Three’ domestic exchange did not post a similar announcement.

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ChinaPeople’s Bank of China

 

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