Published On: Tue, May 15th, 2018

Citing Banking Issues, BitOasis Suspends Deposits and Withdrawals in Dirham

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Dubai-based BitOasis, one of the first crypto exchanges in the Gulf, has announced that it will no longer accept deposits and withdrawals in Dirham (AED) – the United Arab Emirates’ local currency, as of May 15th. The exchange has cited problems with its banking partner as the reason.
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A Short Deadline Creates Chaos
Arabian Business reported that individuals wanting to withdraw balances in Dirham will have to do so before the deadline. The same will apply for those wanting to make deposits in Dirham.
On May 14th, BitOasis sent a letter to all its users stating that “AED wire deposits and AED wire withdrawals will be temporarily disabled”. The company then provided a short period for users to withdraw or deposit AED. The exchange added that credit card deposits will still be available for users until June 16th at a discounted rate of four percent per transaction.
Per the BitOasis statement:
“If you decide to leave your fiat balances the only way for you to withdraw …

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