COINBASE REVERSES--PLANS TO ALLOW BITCOIN CASH WITHDRAWALS IN 2018

Bitcoin exchange Coinbase has reversed its decision to support bitcoin cash. The company now plans to allow customers to withdraw their new cryptocurrency by January 1, 2018.

Coinbase on Thursday announced a change of plans regarding its support for bitcoin cash (BCC, BCH), the new cryptocurrency resulting from the August 1 hard fork. The exchange wrote:

    We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time. Once supported, customers will be able to withdraw bitcoin cash.

Coinbase Plans to Allow Bitcoin Cash Withdrawals in January 2018. Meanwhile, the company claims that both bitcoin and BCC are safely stored and customers with bitcoin balances at the time of the fork “now have an equal quantity of bitcoin cash stored by Coinbase.” Its exchange GDAX also made a similar announcement.

Previously, Coinbase said that it would not support bitcoin cash. “We have no plans to support the Bitcoin Cash fork,” the exchange wrote on July 27, citing the difficulty in predicting BCC’s future market value. “Customers will not have access to, or be able to withdraw, bitcoin cash (BCC).”

Coinbase Plans to Allow Bitcoin Cash Withdrawals in January 2018 However, after the fork, Coinbase came under fire for its decision as users demanded access to their new cryptocurrency. “Give us our BCC!!!,” wrote a Twitter user.