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Cryptocurrency Exchange BTCChina Prolongs Withdrawal Restrictions Until Mid-March

Cryptocurrency Exchange BTCChina Prolongs Withdrawal Restrictions Until Mid March

More repercussions stemming from PBOC’s strict warnings to cryptocurrency exchanges in China are alreadyevident as BTCChina has extended its bitcoin withdrawal delay to March 15.

Initially, withdrawals were postponed for 72 hours, then held off for another 10 days starting February 10, and the latest deferral has now been announced for mid-March. Customers of the exchange are unable to withdraw their bitcoin deposits until the restrictions are lifted but they can take out funds in Chinese yuan instead.

BTCChina is not the only platform which does not allow customers to withdraw their cryptocurrency deposits. Following PBOC’s directives, the exchange is working on enhancing its anti-fraud prevention systems, which will make it compliant with the new regulations.

Meanwhile, BTCChina’s COO Samson Mow has broken the news of his leaving the company via Twitter. The exact reason for his departure is not clear. So far, Mow’s move has not been officially related to the withdrawal delays. 

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