Cryptocurrency exchanges are hurrying to end the connections to Chinese users after a new manner

As the highlight of years of containing the sector, 10 mighty Chinese government agencies, including the central bank, said that foreign stock exchanges were prevented from offering and swearing "illegal" cryptocurrency activities via the Internet - an earlier gray area - services for investors on the mainland.

Huobi Global and Binance, two of the world's largest stock exchanges and in Chinese users, have stopped the new registration of accounts by mainland customers. Huobi also said that it would be cleaned up by the end of the year.

"On the day we saw the notification, we started taking correction measures," said you Jun, co -founder of the Huobi Group, in an explanation of Reuters.

You did not give an estimate of how many of his users would be affected, but only said that Huobi, once the largest crypto exchange in the world, had taken a global expansion strategy many years ago and recorded constant growth in Southeast Asia and Europe.

The shares of crypto-related companies broke on Monday, whereby the crypto asset manager and retail company Huobi Tech broke by 23% and OKG Technology Holdings LTD, a FinTech company that was largely owned by XU Mingxing, the founder of the okcoin crypto, 12%.

tokenpocket, a popular service provider for crypto wallets, also said in a message to customers that he would hire services for mainland chinese customers, the risk of violating Chinese guidelines, and the regulation "actively hug". It added that China's collaboration with blockchain technologies.

Many Chinese crypto exchanges were closed in 2017 or laid abroad after China, once had banned the world's largest Bitcoin trade and mining center, to convert such platforms to convert legal means of payment into cryptocurrencies and vice versa. In May of this year, China's State Councilor to ban Bitcoin trade and Bitcoin mining promised.

In the middle of the raid, other types of Chinese crypto companies have migrated from China in recent months, said Flex Yang, founder and CEO of Babel Finance, and added that the effects of the latest politics were "limited".

The Chinese crypto finance service provider opened a new business center in Singapore this month.

also Cobo, a crypto-asset management and custodian platform, recently moved its headquarters from Beijing to Singapore.

You can find an overview of all the business events of today in our economic calendar.

(Reporting by Samuel Shen and Andrew Galbraith; Editor from Edwina Gibbs)