Chinese Bitcoin Exchanges OKCoin, BTC38 and FXBTC React to Central Bank Policy Changes

New reports indicate that Chinese bitcoin exchange OKCoin and FXBTC have been contacted by financial partners recording the closure of certain accounts used to conduct business.

OKCoin was reportedly contacted by a third-party payment processor, whilst FXBTC was contacts by commercial bank account providers, according to CoinDesk.

OKCoin confirmed this news with an official statement, noting that deposits via pre-paid cards will be halted. CoinDesk notes that debit card and yuan withdrawals are not affected.

FXBTC also posted an official statement noting that banking partners are looking to close accounts in use by the exchange. Debit card deposits will be stopped on April 3rd, and withdrawals will be halted temporarily following Sunday the 6th.

BTC38 has announced it will suspend fiat-to-crypto trading in the wake of all of this, as well.

The follows rumors that the People’s Bank of China want all third-party payment processors and banks to sever ties with bitcoin exchanges, and while the PBOC hasn’t publicly issued any statements on the matter, that hasn’t stopped investors from selling.

At this time, the price of bitcoin is down nearly ten percent to $440 at the Bitstamp exchange.

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