One of China’s ‘Big 3’ exchanges has announced its intent to resume bitcoin withdrawals.
In a statement sent to CoinDesk today, Huobi indicated that it has updates its exchange service in a way that ensures it meets 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.
For example, Huobi cited in the statement how it can now ensure that it is not violating anti-money laundering (AML) or foreign-exchange management 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:
“Once approved by the regulatory body, you can resume the currency business. For the specific time, please pay attention to the official announcement of the fire currency network.”
The exchange first stopped services on 9th February on request from the central bank, a move that would go on to impact the price of bitcoin in the days and weeks that followed.
China flag via CoinDesk
