13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1

Suspension of Bitcoin Deposits and Withdrawals

13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1The 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 other regular services for 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.

13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1Bitbank 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 the association. According to a July 13 article by Nikkei, the exchange has not decided on a plan for the possible disruption, but is expected to come out with one this week.