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OKCoin Restricts Bitcoin Deposits for US Customers
OKCoin has stopped accepting bitcoin deposits from customers in the US, citing regulatory pressure.
OKCoin has stopped accepting bitcoin deposits from customers in the US, citing regulatory pressure.
STORY CONTINUES BELOW
US users of the Chinese bitcoin exchange see the following message when trying to make bitcoin, litecoin or US dollar deposits:
"Notes: Due to regulation, we don't accept the charge from the US."
The company called the measure "temporary", but offered few details when asked when the restriction will be lifted. A representative described the situation as "not very clear".
OKCoin head of international Jack Liu offered additional details by email, telling CoinDesk:
"The latest change is part of an internal review we made on our policies and affects Level 1 individuals who self-indicated as US citizens."
Liu suggested the move was voluntary, but provided no additional comment on the situation.
CoinDesk will continue monitoring this developing story.
Correction: An earlier version of this article incorrectly stated that US customers would have access to LTC and USD deposits.
Stan Higgins
A member of CoinDesk's full-time Editorial Staff since 2014, Stan has long been at the forefront of covering emerging developments in blockchain technology. Stan has previously contributed to financial websites, and is an avid reader of poetry. Stan currently owns a small amount (<$500) worth of BTC, ENG and XTZ (See: Editorial Policy).
