It's been a while since we heard something about the Chinese exchangers and the situation with the withdrawal. Then almost all platforms stopped withdrawing money. But it seems that the withdrawal may resume in June 2017.
But three large stock exchanges will be fined for as yet unknown amount. In addition, new models will appear from regulatory companies, which will have to be adhered to.
Conclusion of BTC and new rules
So it was expected that at some point in China the withdrawal of the crypto currency will resume. But no one knew exactly when it would happen. Since PBOC has intervened in AML requirements, the situation has changed slightly. It is now believed that the withdrawal will resume in June this year. However, specific details will be announced in the coming weeks.
The withdrawal will be resumed after the release of new regulations. Caixin informs that exchangers must adhere to two new rules. One document relates to the management manual for bitcoin-exchangers, which sounds rather vague. Another document concerns the recommendations of the AML on the exchange of crypto-currencies. It was the latter that allowed many people to guess what will happen in the future.
It can be argued that this news came at the right time. Recently Bitkoyan's course is growing enchantingly. However, China is no longer the market leader. The championship was captured by Japan, which was to be expected. True, it is unclear whether the opening of the withdrawal from the exchanges will influence the price. After all during all this time on all BTC exchanges it was possible to convert to CNY.
Penalties for BTCC, Huobi and OKCoin
Unfortunately, it seems that some exchanges will be punished. BTCC, OKCoin and Huobi will receive a fine. This is not surprising, as PBOC hinted that some platforms did not comply with AML rules. Nevertheless, it is unclear what kind of punishment they will face in the end. Given all the circumstances, many will be happy to hear that in the near future the business will recover.