Chinese Bitcoin traders have inundated LocalBitcoins to convert their Yuan after major Chinese exchanges halted withdrawals last week.
Following
warnings about adhering to strict AML/KYC regulations by the People’s Bank of China, exchanges such as BTCC, Huobi and Okcoin stopped letting customers withdraw Bitcoin.
“From now on, Huobi stops the withdrawal for Bitcoin and litecoin,” Huobi’s latest
announcementstated Feb. 9. It is unknown when full functionality will return and under what rules.