Bitcoin Exchange Bter Resumes Withdrawals: “Good Start” for China

Smaller Chinese cryptocurrency exchange Bter has resumed withdrawals in what commentator cnLedger describes as a “good start.”

Bter, which like other Chinese exchanges suspended withdrawals following directives from the People’s Bank of China, now allows traders to withdraw up to 10BTC per day.

The move adds hope for Chinese Bitcoin investors who last month resorted to informal marketplaces such as LocalBitcoins to trade, despite poorer exchange rates and wide spreads for CNY.

CnLedger also pointed to an all-time high yuan price on “withdrawable” Chinese exchanges Friday, with Bter recording 9035 CNY per 1 BTC.

China’s flagship exchange BTCC said in a circular to customers Feb. 15 that it expected to resume withdrawals by March 15, but it is unknown what restrictions, if any, will apply from that date.

Last week saw record trading levels for China on LocalBitcoins, the figures beating the previous week’s high by over 15 mln yuan.


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