Bitcoin Exchange BTCC Tests Withdrawals Before Deadline, Localbitcoins Set Records

Major Chinese Bitcoin exchange BTCC appears to be testing withdrawals ahead of the planned March 15 deadline.

A user cited by news resource cnLedger on Twitter appears to state they managed to successfully withdraw Bitcoin from their account.

Despite the request being made before BTCC halted withdrawals Feb. 15, it has now nonetheless gone through, prompting positive speculation.

The news follows information last week that smaller exchange Bter had recommenced withdrawals en masse, subject to a daily cap of 10 BTC per user.

While no major news from China regarding it regulatory environment has surfaced in the past few weeks, Chinese investors shut out of the exchange arena continue to vote with their feet.

Peer-to-peer marketplace LocalBitcoins posted another all-time high for its Chinese market the week ending March 4, with over 60 mln yuan traded - up from 50 mln the week before.

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By contrast, in the week ending Feb. 11, just 5 mln yuan changed hands.