One of China’s most prominent bitcoin exchanges, BTCChina informed their users that upgrades have been completed in their user identification systems, mandated from the People’s Bank of China in recent months.
However, the continuation of deposits and withdrawals only concerns CNY here, not BTC and LTC, which are still on hold pending further notice.
The exchange said, “In compliance with anti-money laundering (AML) policies, BTCChina has completed the upgrades to its know your customer (KYC) identity verification system..”
The new KYC system requires four pieces of identity including:
1. Full Name
2. National ID number
3. Bank card number
4. Mobile phone number
All users must complete the above verifications in order to deposit and withdraw funds.