19 Apr '17, 3pm

OKCoin Becomes Latest Bitcoin Exchange to Freeze US Dollar Deposits

OKCoin Becomes Latest Bitcoin Exchange to Freeze US Dollar Deposits

Chinese digital currency exchange OKCoin has stopped accepting US dollar deposits, a move it attributed to banking issues. OKCoin becomes the latest cryptocurrency service to report problems with USD transfers, coming just a day after Bitfinex revealed that it, too, wouldn’t be able to accept transfers, citing correspondent bank problems that initially focused on outgoing wires. When reached, an online support staffer for OKCoin told CoinDesk that the exchange currently doesn’t have an exact timeline for reactivation. The exchange told users yesterday that it was working to restore deposit functions through alternative channels. "Please do not make further deposits as your wires may be rejected by intermediary banks," a notice posted on the exchange’s website stated. The move comes months after OKCoin, as well as other exchanges based in China, shifted policies in light of...

Full article: http://www.coindesk.com/okcoin-bitcoin-freeze-us-dollar/

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