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BTCC sets a deadline for Yuan withdrawals

The BTCC exchange of cryptocurrency today told its Chinese users that they must withdraw funds by October 30 before the previously announced closure of services.

27.Sep.17 3:08 PM
By Daria Zaytseva


BTCC sets a deadline for Yuan withdrawals

In a new blog post, BTCC confirmed that it will no longer accept yuan or cryptocurrency deposits for 12 p.m local time on 27 September. Withdrawals will be available up to 12 p.m local time on October 30 and will be completed within 72 hours after the request, according to the message.

"If the user does not want to keep the digital assets, please buy back it for [yuan] as soon as possible," the post said.

The exchange, the oldest in the country, for the first time announced the cessation of trade on September 30 after approval, although not completely confirmed, of the directives of the Chinese government. Huobi and OKCoin - two of the Chinese "big three" exchanges - also intend to stop the yuan trading by the end of October.

Nevertheless, the BTCC seems to be taking the most active steps in winding down trading operations, indicating that it would stop using cryptocurrency deposits at a time when Huobi and OKCoin say that they aim to continue crypto-to-crypto trading.

The BTCC report further added that its other domestic services, including its production pool, are not affected by this announcement.

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