Japanese Bitcoin exchange CoinCheck has temporarily suspended a large proportion of customer withdrawals due to the Metropolitan Police Department freezing their main bank account.
The exchange currently utilises the services of three banks in Japan, but cited in a company announcement that their main bank ‘Rakuten bank’ held the lions share of customer funds.
It is not yet clear why the police have frozen the exchange’s bank account as they are waiting for an official response.
Bitcoin is currently trading at 1,348.89 CNY
CoinCheck launched in September 2014 and has ambitious plans to capture the Japanese Bitcoin scene.
Related posts:
Britain's welfare Blockchain sparks privacy concerns
Blockchain being tested on UK National Archives
List of Bitcoin exchanges effected/ running as normal
Poland puts banking records on the Blockchain
Nexo signs partnership with UTRUST known as the 'Paypal of Crypto'
Hybrid Blockchain: The Best of Both Chains
XBT Provider announces agreement with Bitcoin firm Xapo
Stellar Lumens given green light for trading in New York
