OKCoin Restricts Bitcoin Deposits for US Customers – The Basics about Cryptocurrency

OKCoin has stopped accepting bitcoin deposits from customers in the US, citing regulatory pressure.

US users of the Chinese bitcoin exchange see the following message when trying to make bitcoin, litecoin or US dollar deposits:

“Notes: Due to regulation, we don’t accept the charge from the US.”

The company called the measure “temporary”, but offered few details when asked when the restriction will be lifted. A representative described the situation as “not very clear”.

OKCoin head of international Jack Liu offered additional details by email, telling CoinDesk:

“The latest change is part of an internal review we made on our policies and affects Level 1 individuals who self-indicated as US citizens.”

Liu suggested the move was voluntary, but provided no additional comment on the situation.

CoinDesk will continue monitoring this developing story.

Correction: An earlier version of this article incorrectly stated that US customers would have access to LTC and USD deposits.