October 19, 2021

Binance and Huobi stop working with users from China

Cryptocurrency exchange Huobi has pledged to completely stop serving users from China before the end of this of the year.

“In order to comply with local lawsHuobi Global has stopped registering new users from China since September 24, the company wrote on its website. "Huobi Global will gradually deactivate existing Chinese user accounts by midnight December 31, 2021 and ensure the safety of user assets."

In addition, the 8btc portal reports that Binance also stopped registering accounts for Chinese phone numbers by removing the corresponding code.

“Users from China were unable toaccess our website since 2017. We do not currently have any stock exchange business in China. We take our compliance obligations very seriously, ”Binance quoted 8btc as saying.

Shortly before this, the People's Bank of Chinapublished new clarifications regarding restrictions on cryptocurrency transactions. Both exchanges were located in China before the authorities banned cryptocurrency business in 2017 and still have a large client base among the population of the country, providing over-the-counter digital asset exchange services.

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