Large crypto exchanges have broken off the connections to Chinese users after China's latest approach to cryptocurrency-regulation
Large crypto exchanges have broken off the connections to Chinese users after China's latest approach to cryptocurrency-regulation
Large cryptocurrency exchanges break down the connections to users in China according to the recent announcement by the Chinese government to take action. Huobi no longer lets new users register for his services in China, while Binance blocked account registrations with Chinese mobile phone numbers.
Large crypto exchanges stop registering Chinese users
to China's latest gave several cryptocurrency exchanges and service known that they have started to end relationships with users in China.
The crypto exchange Huobi announced on Sunday that "existing users on the Chinese mainland will gradually retire". The exchange wrote:
In order to comply with the local laws and regulations, Huobi Global has discontinued the account registration for new users on the Chinese mainland with effect from September 24, 2021 (UTC+8). Huobi Global will gradually withdraw existing user accounts on the Chinese mainland by December 31, 2021 at midnight (UTC+8).
The co -founder of the Huobi Group, du Jun, told Reuters: "On the day we saw the notification, we started to take correction measures."
In the meantime, Binance said that it has blocked account registrations with Chinese mobile phone numbers and that its app is no longer available for download in China. A spokesman for the stock exchange said:
Binance takes his compliance commitments very seriously and undertakes to follow the requirements of the local supervisory authorities wherever we work.
bony was examined by a long list of regulatory authorities worldwide, including in the USA, Great Britain, the Netherlands, South Africa, Hong Kong, Singapore, Malaysia, Thailand, Lithuania, Italy and Canada. On Monday the stock exchange ended some services in Singapore.
tokenpocket, a provider of crypto wallet, also said in a message to customers that he would hire services for users on the Chinese mainland to comply with the Chinese regulations.
Some people see the cryptocurrency of the Chinese government as a positive news that has little effect on the crypto industry. CEO from Galaxy Digital Mike Novogratz declared declared Recently that China has "less and less" influence on the cryptom market. In the meantime, several US legislators see the procedure of the Chinese as Big chance are.
What do you think that crypto exchanges cancel the connections to users in China? Let us know in the comment area below.
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