One of China's 'Big 3' exchanges has announced its intent to begin allowing customers to withdraw bitcoin from accounts.
In a statement sent to CoinDesk today, Huobi indicated that it has updated its exchange service to ensure it meets the standards advised by regulators earlier this year. Huobi, like its counterparts BTCC and OKCoin, have faced increased scrutiny in recent months over alleged regulatory issues.
As such, Huobi cited its commitment to following all anti-money laundering and foreign exchange laws, both areas of concern highlighted by the People's Bank of China, the country's central bank.
Huobi said it remains committed to making the industry "healthy", doubling down on a commitment to compliance and security.
The statement reads:
The Beijing-based exchange first stopped bitcoin and litecoin withdrawal services on 9th February on request from the central bank, a move that would go on to impact the price of bitcoin in the weeks that followed.
The full statement can now be found online here.
China flag via CoinDesk
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.