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13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1

The Japan Cryptocurrency Business Association has officially announced its plan on how to deal with the possibility of a Bitcoin protocol split on August 1. Thirteen of the group’s bitcoin exchange members, including Coincheck, Gmo-Z, Bitbank, and Bitpoint, will suspend bitcoin deposits and withdrawals on August 1 at 00:00 Japan time.

Also read: Japan’s Cryptocurrency Business Association Plans for August 1 Guidelines

Suspension of Bitcoin Deposits and Withdrawals

The Japan Cryptocurrency Business Association (JCBA), formerly known as the Virtual Currency Business Study Group, announced on Tuesday its official plan for August 1.

Thirteen bitcoin exchange members of the association have agreed on how to deal with the possibility of a Bitcoin protocol split, which is expected on August 1 at 9:00 am Japan time, the JCBA detailed. “The occurrence of forking affects the transmission and receipt of bitcoins by all bitcoin users, and it is expected that all related virtual currency exchange operators and service providers will be seriously affected.”

The exchanges have collectively declared:

We decided to temporarily stop accepting bitcoin deposits and withdrawals at each exchange…We will stop only the services related to depositing and withdrawing bitcoins, but we will provide our regular services for other virtual currencies and legal currencies. Thirteen Participating Bitcoin Exchanges

Currently, the following 13 bitcoin exchanges are members of the JCBA that have agreed to this plan.

Bitbank Inc. Bitpoint Japan Co. Ltd. Quoine Co. Ltd. Fisco Cryptocurrency Exchange Inc. Coincheck Co. Ltd. Btc Box Co. Ltd. Tech Bureau Co. Ltd. (Zaif Exchange) GMO-Z.com Coin Co. Ltd. Campfire Corporation Bit Trade Co. Ltd. Bitcrements Bitcoin Exchange Tokyo Bitcoin Co. Ltd. Minnano Bitcoin

Japan’s largest bitcoin exchange by volume, Bitflyer, is not among the list of members of...

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