OKCoin Announces Suspension of CMB Bank Deposits


OKCoin to Suspend CMB Bank Deposits

ForexMinute.com – In response to the scandalous ruling by PBOC which asks all the Bitcoin exchanges to withdraw their funds by April 15, OKCoin just announced to soon suspend its CMB (China Merchants Bank) bank deposits. The bank earlier notified OKCoin to take the aforementioned step by April 14.

The renowned Bitcoin exchange released a press release this morning to inform it users about its latest changes and the future alternatives as well. It posted a whole communication with the CMB in which it was clearly mentioned that the latter received a notice (oral, not written) from higher authorities, saying that its clients with any involvement with digital currencies such as Bitcoin must be warned to withdraw their deposits by April 15. CMB redirected this news to OKCoin, which in response took the step to pause using CMB Xi’erqi Branch account recharge.


The Bitcoin trading platform although ensured its customers and said that they are actively responsive to any kind of emergencies like this. OKCoin further provided few alternatives to customers through which their interest will be efficiently met. The exchange propose the following plans: Launching an altogether separate recharge method – OKCoin Prepaid Recharge Service Code, and a New Trading Platform for Overseas Services that will be stable, more secure and impeccably safe.

As per the statement issued by OKCoin, the recharge method will enable users to trade in Yuan via using a recharge code. This recharge code can be freely traded between OKCoin users, for prepaid and cash fast arrival schemes. While on the other hand, the OKCoin new overseas trading platform is notified to be under construction but will be soon presented to the exchange’s customers. It will be much securer than the Chinese exchange platform which is continuously volatile under the scrutiny of local government.

“I hope we can continue to go hand in hand to create a financial myth belongs to the Chinese people’s bits! To the world that China is not only bullion aunt, as well as firm a bit rich handsome! OKCoin been in!” the press release concluded.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com