Post
Topic
Board Service Discussion
Re: OKCOIN also having problems with USD deposits
by
pinkflower
on 23/04/2017, 08:06:44 UTC
Also, BTC-e had problems with USD Wire transfers – they tweeted on April 14th, and I quote:
Quote
"Due to change banking account we don't accept USD wire transfers till the end of month #btce."
Bitfinex is now suing Wells Fargo for the USD wire transfers issue, you can read more about it here: https://news.bitcoin.com/bitfinex-sues-wells-fargo-over-wire-transfer-suspension/  

I think Bitfinex have now withdrawn their Wells Fargo suit. See

http://www.coindesk.com/bitcoin-exchange-bitfinex-withdraws-lawsuit-wells-fargo/

I wonder what happened to change their minds.

Interesting info about BTC-E - I wonder if this is about US regulators cracking down on funds denominated in dollars sent to unregulated exchanges.
I hope that at least BTC-E won't encounter such a problems, but it is an interesting thing, because it looks like exchanges, one by one are disabling wire deposits/withdrawals.
First was Bitfinex, now we see that OKCoin has the same problem. Who is going to have their bank accounts frozen next?

I would be very worried if the goverments would try to block all bank accounts of the unregulated cryptocurrency exchanges, it is still possible because they might consider these projects as a money laundering operation.

That is why I prefer to sell my bitcoins peer-to-peer, or to the local exchange where I wont encounter such a issue.

What do you mean by local exchange? Do you mean Localbitcoins? As far as I know theyre now requiring their users to upload their identification and proof of where they live. That means theyre doing KYC procedures required by law if the nature of your business involves money exchanging and processing. Which also means they know that one day the government will be coming after them next.