China Crypto Ban: Crypto Exchange Huobi To Retire User Accounts
Top Crypto Exchange Huobi Global has said it will suspend all China-based user accounts later this year. The exchange said in an announcement on Sunday that it has discontinued account registration for new users in Mainland China. This event comes after China’s central bank intensifies its crackdown on crypto activities. Last week, China intensified a crackdown on cryptocurrencies. […]
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The company said that its platform would not be serving any user from China by the end of the year.
CoinEx previously blocked access and terminated the registration of new users from mainland China in March 2019. CoinEx cryptocurrency exchange is winding down operations in mainland China to comply with local anti-crypto regulations.The company officially announced on Thursday that it was going to completely retire user accounts verified as mainland China citizens as well as those linked to a mobile phone number from mainland China.The exchange has asked mainland China-based users to withdraw their crypto assets from the platform before Oct. 31, 2021. CoinEx then plans to disable accounts....
China continued its crackdown on crypto, leading to massive amounts of bitcoin and Ethereum being moved from exchanges. Immense pressure from Chinese central banks following the latest iteration of the China crypto ban has seen exchanges suspending operations in the region. In light of this, large amounts of crypto are being moved from exchange wallets to presumably safer wallets. The transactions are thought to be going to cold wallet storage. Crypto crackdowns in the country caused a surge in USDT sell-offs against the Yuan as users tried to get rid of their crypto holdings before the....
The founder of crypto exchange Huobi Global, Leon Li, is in discussions to sell nearly 60% of his investment in Huobi, which accounts for 5% of all crypto trading volume. Reports on Saturday indicate the deal is priced between $2 and $3 billion. Existing investors in Huobi, including Sequoia China and ZhenFund, were reportedly notified […]
China’s ongoing crackdown on cryptocurrencies has forced Huobi exchange to halt derivatives trading services to users in China. As per an updated User Agreement from the Seychelles-based exchange, China is now on the list of prohibited jurisdictions for derivatives trading. Crypto users in the country can still access the exchange for spot trading. Huobi Ban […]