Share this article
Bitcoin Exchange BTCC Sets Deadline for Yuan Withdrawals
China's oldest bitcoin exchange has released new details on how it will end yuan trading following a crackdown by the domestic government.
By Stan Higgins
Updated Sep 13, 2021, 6:58 a.m. Published Sep 27, 2017, 7:05 p.m.
Cryptocurrency exchange provider BTCC told its China-based users today that they must withdraw funds by October 30th ahead of a previously announced shutdown of services.
In a new blog post, BTCC affirmed it will no longer accept yuan or cryptocurrency deposits as of 12 p.m. local time on September 27. Withdrawals will be available until 12 p.m. local time on October 30 and will be completed within 72 hours of being requested, according to the post.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"If the user does not wish to retain the digital assets, please redeem it for [yuan] as soon as possible," the post explained.
The exchange, the country's oldest, first announced it would halt trading on September 30 following an alleged, though not exactly confirmed, directive from the Chinese government. Huobi and OKCoin – two of China's "Big Three" exchanges – are also moving to stop yuan trading by the end of October.
Nonetheless, BTCC appears to be taking the most active steps in winding down trading – indicating it would stop cryptocurrency deposits at a time when Huobi and OKCoin say they aim to continue crypto-to-crypto trading.
BTCC went on to add that its other domestic services, including its mining pool, are not affected by the announcement.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in BTCC.
Image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
XRP Faces Downside Risk as Social Sentiment Turns Wildly Negative
The turn in crowd mood comes after a two-month slide of roughly 31%, leaving the token vulnerable to further downside if risk appetite weakens across majors.
What to know:
- XRP's price approached the $2 mark as social sentiment around the token turned sharply negative, according to Santiment data.
- The token has experienced a 31% decline over two months, making it vulnerable to further losses if market risk appetite weakens.
- Santiment's sentiment model indicates XRP is in a 'fear zone,' where negative commentary significantly outweighs positive talk, potentially influencing market positioning.
Top Stories
