Bitcoin crashed today as OKCoin made a surprise announcement stating they are to pause BTC and LTC withdrawals for a time estimate of one month to comply with “relevant national anti-money laundering, payment and settlement of foreign exchange management and other financial laws and regulations.” Huobi made a similiar announcement.
The announcement said that there is a cross-industry collaboration effort to upgrade the system for better anti-money laundering compliance. During this period, BTC and LTC withdrawals will be paused, but yuan withdrawals and deposits can continue.
Price sharply fell as of writing.
This developing story will be updated shortly.