Chinese exchanges await regulators' approval to resume Bitcoin withdrawals

Rage Commentary : BTCChina, Bihang.com, and China Bitcoin issued a statement, announcing that they would wait for the approval of the regulatory authorities before resuming the withdrawal business. Huobi.com has suspended Bitcoin and Litecoin withdrawal services since February 9, and is currently fully cooperating with the regulatory authorities. Faced with increasingly stringent supervision, these exchanges announced that they will adhere to their commitment to the healthy development of the industry and comply with all anti-money laundering regulations and foreign exchange management regulations. As long as they are approved, they can resume services. The specific time will be announced on the official website of the exchange at that time.

Translation: Annie_Xu

Bitcoin China (BTCC), OKCoin, and China Bitcoin (CHBTC) have all issued statements, announcing that they are waiting for approval from regulatory authorities before resuming their withdrawal services.

One of the country’s “big three” exchanges has announced plans to begin letting customers withdraw cryptocurrencies from their accounts.

Huobi, which like Bihang and BTC China has faced increasing scrutiny in recent months, said it has upgraded its trading services to ensure it complies with rules set by regulators earlier this year.

Therefore, Huobi is committed to complying with all anti-money laundering regulations and foreign exchange management regulations, which are issues emphasized by regulators.

Huobi.com said it remains committed to the healthy development of the industry, especially in terms of compliance and security regulations.

"Once you obtain approval from the regulator, you can resume your currency business. For the specific resumption time, please pay attention to the official announcement of Huobi."

The Beijing-based exchange halted its bitcoin and litecoin withdrawal services for the first time on February 9, in compliance with the central bank’s order. The move will continue to affect bitcoin prices in the coming weeks.