Following the announcement on March 31 asking clients to convert their fiat asset into bitcoin or litecoin and return margin before 12:00 April 1, BitVC today released a notice on its website suspending bitcoin and litecoin withdrawals service.

The announcement reads:

Dear users: To strictly obey the law of the People’s Republic of China on anti-money laundering, foreign exchange and other financial regulations, BitVC decided to suspend bitcoin and litecoin withdrawals service from now on. We apologize for any inconvenience it may cause. Thanks for your understanding and support to BitVC! If you have any questions, please contact our customer service hotline: 4000-685-598 BitVC Team April 7th

BitVC is a comprehensive digital currency investment and financial management platform, offering leverage trading and Yubibao interest-bearing savings accounts for bitcoin and litecoin.

Last March, Huobi was said to send emails requiring users to provide their personal information along with explanations of the sources of the funds to be withdrawn and their intended withdrawal destinations as a way of complying with PBOC’s strict AML and KYC policies.