BTCChina Pulls Plug on Bitcoin, Yuan Withdrawals
Dou Shicong
DATE:  Oct 30 2017
/ SOURCE:  Yicai
BTCChina Pulls Plug on Bitcoin, Yuan Withdrawals BTCChina Pulls Plug on Bitcoin, Yuan Withdrawals

(Yicai Global) Oct. 30 -- Users of BTCChina, one of China's three biggest bitcoin trading platforms, have been unable to withdraw funds from their accounts as of 12.00 p.m. Beijing time today.

The platform was forced to close its doors after China began to crackdown on cryptocurrencies and initial coin offerings on Sept. 4, NetEase News reported today. The exchange prevented digital-fiat currency trades several weeks ago and gave users until now to withdraw their remaining assets.

China's other two major platforms, Huobi and OKCoin, will cease all exchanges between yuan and digital assets tomorrow.

However, market reports suggest that Huobi will launch an over-the-counter peer-to-peer trading service in a bid to continue its support of the global exchange of currency and digital assets.

The country's tightened regulation hasn't put a dent in demand for bitcoin, which has actually rallied to almost USD6,300, according to Bitstamp, a Luxembourg-based exchange.

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Keywords:   BTCChina,Huobi,OKcoin,Bitcoin,Digital Currencies,Cryptocurrencies,ICOs,Initial Coin Offerings