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Huobi’s BitVC Suspends Bitcoin and Litecoin Withdrawals Service

Following the announcement on March 31 asking clients to convert their fiat asset into bitcoin or litecoin and return margin before 12:00 April 1, BitVC today released a notice on its website suspending bitcoin and litecoin withdrawals service.

suspend bitcoin withdrawThe announcement reads:

Dear users:

To strictly obey the law of the People’s Republic of China on anti-money laundering, foreign exchange and other financial regulations, BitVC decided to suspend bitcoin and litecoin withdrawals service from now on.

We apologize for any inconvenience it may cause. Thanks for your understanding and support to BitVC! If you have any questions, please contact our customer service hotline: 4000-685-598

BitVC Team

April 7th

BitVC is a comprehensive digital currency investment and financial management platform, offering leverage trading and Yubibao interest-bearing savings accounts for bitcoin and litecoin.

Last March, Huobi was said to send emails requiring users to provide their personal information along with explanations of the sources of the funds to be withdrawn and their intended withdrawal destinations as a way of complying with PBOC’s strict AML and KYC policies. 

COMMENTS(2)

  • BitcoinAllBot
    6 months ago BitcoinAllBot

    Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: 8btccom

  • lechango
    6 months ago lechango

    Well, glad I got my coins out of there at the first sign of these recent Chinese regulations.

    How can they just hold customer funds hostage? Most people trading on this platform are not Chinese and cannot withdraw yuan.

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