Huobi to resume bitcoin withdrawals amid increased PBoC scrutiny

Customers of Chinese digital currency exchange Huobi will soon be able to withdraw bitcoin from their accounts.

In a statement posted on its website, Huobi announced that its bitcoin withdrawal service will commence “once approved by the regulatory body.”

The announcement comes less than a month after Huobi, along with OKCoin, announced that it will completely halt bitcoin and litecoin withdrawals for 30 days while the improve their anti-money laundering capabilities and prevent “illegal transactions.”

The two companies are part of China’s so-called “Big 3” exchanges—the third being BTC China—that came under fire after investigators of the People’s Bank of China (PBoC) discovered “irregularities” in their operations, including offering  a loan feature called margin trade.