Major Chinese bitcoin exchanges, including BTCChina, Huobi and OkCoin have started to allow withdrawals of bitcoin, ending a four-month freeze. The move followed the People's Bank of China's investigation into the digital currency market, which prompted some exchanges to introduce or update know your customer and anti-money laundering protocols, with more government regulation expected. Bitcoin's price has surged over the past few days as investors anticipate that China will soon follow suit by allowing its citizens to buy and sell cryptocurrencies without having to go through an exchange
Major Chinese bitcoin exchanges, including BTCChina, Huobi and OkCoin have started to allow withdrawals of bitcoin, ending a four-month freeze. The move followed the People's Bank of China's investigation into the digital currency market, which prompted some exchanges to introduce or update know your customer and anti-money laundering protocols, with more government regulation expected. The ability to withdraw bitcoin came as the currency hit an all-time high of $2,400, a rise of 150% since January.