The months-long bitcoin withdrawal freeze in China is coming to an end, as major exchange BTCC resumes bitcoin withdrawals.
The new month brings with it reports of another prominent exchange lifting its withdrawal freeze. BTCChina has stated that it has begun “testing” bitcoins this week. In joining OKCoin, that’s two of the ‘big three’ Chinese exchanges resuming withdrawals following regulatory scrutiny by the People’s Bank of China (PBOC).
China’s central bank began investigating trading and business practices of regional exchanges that drove what was then the world’s largest bitcoin trading market. It was nearly six months ago on January 6 when PBoC officials met with BTCC and followed it up with “on-site checks” of China’s biggest exchanges.
For its part, BTCC claimed it “regularly meets with the PBOC” to work in accordance of laws and regulations while adhering to “strict AML/KYC policies”. It wasn’t long before the financial regulator’s tightening …