[2017/02/09] Chinese Exchanges Suspend Withdrawals for One Month

[TwoTimes]

In a surprise turn of events, the two largest Chinese Bitcoin exchanges have suspended Bitcoin and Litecoin withdrawals for one month. The news follows China’s central bank inspections at nine smaller Bitcoin exchanges this week.

This week the PBOC has visited with smaller exchanges within the region including Chbtc, Haobtc, Btctrade, Yunbi, BTC100, Dahonghuo, Jubi, Bitbay, and Yuanbao. The initial visits had caused the price to drop a touch but quickly rose back to the $1070 range on February 8. The following day on February 9 the exchanges Okcoin and Huobi announced they would suspend BTC and LTC withdrawals for one month which subsequently caused the Bitcoin price to drop 10 percent.

Read More Here: https://news.bitcoin.com/chinese-exchanges-suspend-withdrawals-for-one-month/

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[odolvlobo]

Hmm. These suspensions of withdrawals are similar to events at Mt. Gox, and Cryptsy, and every other exchange that turned out to a scam.

[seven.71]

what causes it so that the Chinese market could not Withdraw, what for Regulation PPBOC?
when I have the funds there, it's odd china market even more financial authority there often make policy controversy

[0xfff]

Who else is ready for some cheap cheap cheap coins? 

This is sad for chinamen. I hope they don't get gox'd.

[TraderTimm]

The People's Bank of China have "gotten wise" to the ability of Bitcoin to circumvent their capital controls.

So, they shut it down. Who knows when they'll actually be able to transfer funds again.