PBOC Proposes In Person Verification for Account Opening at Exchanges, Withdrawals Still On Hold
Bitcoin.com --------- The People’s Bank of China (PBOC) has reportedly sent a draft proposal to Chinese bitcoin exchanges detailing anti-money laundering (AML) requirements. One proposal outlined in the draft is an on-site verification for opening an account at an exchange. Meanwhile, withdrawals at these exchanges are unlikely to resume until AML rules have been clarified. An article in the China Business Journal reportedly claims that the PBOC has sent a 4-page draft proposal to Chinese bitcoin exchanges. The bank is asking them if the requirements outlined in its proposal, including one involving a mandatory in-person verification, are feasible. To learn more click on the picture below to read the article.