December 4, 2021

KuCoin leaves China

KuCoin leaves China

Cryptocurrency exchange KuCoin announced the closure of all accounts for mainland Chinese customers after The People's Bank (NBK) has stepped up measures to combat cryptocurrency trading.

On October 3, the crypto exchange announced that allusers from mainland China will have to close their accounts and withdraw their funds from the platform by December 31, 2021. The company decided to leave China following a statement from local authorities in late September.

We strongly recommend that eligible clients move their assets to other platforms by 24:00 (UTC + 8) on December 31, 2021.

KuCoin is the third major cryptocurrency exchangewhich leaves the country. On September 26, Binance exchange blocked new account registrations using Chinese mobile numbers, and Huobi Global said it would delete all accounts of Chinese citizens by the end of the year.

More than 18 platforms offering services related to cryptocurrency have announced that they are leaving the Chinese cryptocurrency market.

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