At 12:06 local time, Bter, one of Chinas larger Bitcoin exchanges, posted an announcement to its website announcing a temporary suspension of deposits. Whats more is Bter cites official regulation that they were just informed of, as the ultimate reason for this incredible convenience to its users. Bter not only offered RMB to BTC markets but also RMB to LTC, Dogecoin, Auroracoin, and even Counterparty (XCP). Many Bitcoiners on both sides of the Pacific are wondering if other Chinese Bitcoin exchanges will soon follow suit and suspend CNY deposits. In the meantime, CNY withdrawals, as well as all digital currency withdrawals, are still active.
Bter has clarified that the notice came from their 3rd party payment processor, and that they never used a bank to begin with, so they arent sure how Chinese exchanges with banks will be effected.