Cryptocurrency Exchange BTCChina Extends Bitcoin Withdrawal Delays Into March

The fallout from PBoC’s harsh warnings to all cryptocurrency exchanges domiciled in China is continuing. Yesterday, BTCChina released a statement regarding the ongoing Bitcoin/Litecoin withdrawal delays, saying the hold will be extended to March 15th.

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This is BTCChina’s third withdrawal delay extension this month. On February 10th, the exchange upped the delay from 72-hours to 10 days.

While existing BTCChina clients are presently unable to get their digital currency deposits out, withdrawals in Chinese yuan are still allowed, “if customers want to withdraw funds within a shorter period, they can first trade their bitcoins and litecoins for CNY on the exchange and then withdraw the CNY.,” says BTCChina.

Like many other Chinese exchanges that suspended outflows of customers’ cryptocurrency deposits following PBoC’s warnings, BTCChina is currently in the process of redesigning its anti-fraud prevention systems to come into full compliance with Chinese financial regulations.

BTCChina’s Chief Operating Officer, Samson Mow, who has been with the firm for two years, announced today he was leaving due to personal reasons:

Mow’s unannounced departure, as well as the timing of the announcement, has left some members of the Bitcoin community a bit perplexed, “Great guy, but him leaving without giving a reason makes me nervous,” writes one Redditor.

While the timing of the move may seem a bit suspect to some, there is no direct evidence Samson’s departure is any way related to the withdrawal delays.

“I will miss all of the great people at BTCC but look forward to hearing good news from them as they continue their journey!,” Samson said in one of his Tweeets.

Bobby Lee, CEO of BTCChina, also took to Twitter for a statement:

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