Two of China's leading cryptocurrency exchanges have suspended withdrawals of bitcoin and litecoin.
Posts on the websites of Huobi and OKCoin confirm that, effective immediately, clients will not be able to make bitcoin or litecoin withdrawals from their accounts for a period of one month. Yuan withdrawals are not affected.
According to the exchanges, the move is a bid to upgrade its AML filters and its ability to detect other illegal activities. In a statement to CoinDesk, Huobi stressed that this move was proactive, with the intent of boosting its image.
However, this morning a post appeared on the central bank's website, confirming recent meetings with bitcoin exchanges and urging all to comply with AML and foreign exchange regulations.
As far as we know, other exchanges have not followed suit in the account restrictions, but we will continue to monitor the situation.
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