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. […]
Related News
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 […]
Following the latest statements from China’s central bank concerning cryptocurrencies and offshore crypto exchanges, massive amounts of funds have been moving onchain. On September 26, at approximately 1:00 a.m. (UTC) 72,999 BTC or $3.1 billion in bitcoin was dispersed to unknown wallets.
Huobi to Gradually Retire Mainland China Users, 800K Ether Move from Huobi to an Unknown Wallet
Word around the crypto campfire is that offshore exchanges near China are seeing massive amounts of crypto transfers during the last few days. For instance, theblockcrypto.com writer Wolfie....