More Chinese Exchanges Impose Bitcoin Withdrawal Delays

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Following the lead of two of the market’s more prominent exchanges, at least six other China-based bitcoin exchanges have announced updates to withdrawal policies as part of a bid to tighten AML oversight.

Announced today, BitBays, BTC100, BTCTrade, CHBTC, HaoBTC and Yunbi have all enacted changes to their withdrawal capabilities, a move that comes days after the exchanges were called to meet with the Beijing office of the People’s Bank of China (PBoC), China’s central bank.

Notably, the policies issued differ from the more stringent halt of bitcoin and litecoin withdrawals imposed by Huobi and OKCoin, which will stop these services for one month. Only CHBTC indicated it would suspend bitcoin and litecoin withdrawals for this duration.

In statements issued by BTCTrade, BTC100 and HaoBTC, the exchanges said that bitcoin and litecoin withdrawals would now be delayed, though they did not indicate they would halt any services.

All indicated yuan deposits and withdrawals would be unaffected, and that anti-money laundering (AML) upgrades were the impetus for the decision.

HaoBTC noted that its new policy was implemented to restrict the ability of its wallet users to deposit yuan, buy bitcoin and then

Read more ... source: CoinDesk

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