Menu Content
Go Top

Economy

Cryptocurrency Traders to be Allowed to Withdraw Money Through Other Banks

Written: 2018-01-02 14:01:38Updated: 2018-01-02 15:01:41

Cryptocurrency Traders to be Allowed to Withdraw Money Through Other Banks

The government will allow cryptocurrency traders to withdraw money from their real-name cryptocurrency accounts via another bank, however depositing money through other banks will be banned. 

Financial authorities came up with such measures on Tuesday as part of follow-up and supplementary steps to the government’s efforts to curb virtual currency speculation.
 
Authorities decided to allow traders of Bitcoin and other digital money to withdraw money through accounts in other banks out of concerns that a special measure put in place last week could excessively limit existing traders from exercising their property rights.
 
That special measure allows the use of only real-name bank accounts and matching accounts at virtual currency exchanges for deposits and withdrawals.

Related News

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >