Cryptocurrency Exchange Huobi to Clean up Existing Mainland Clients by End 2021

By Reuters
September 27, 2021 Updated: September 27, 2021

BEIJING—Chinese cryptocurrency exchange Huobi Global said on Sunday it had stopped taking new mainland customers on Friday (Sept. 24) and would end contracts with mainland clients by the end of the year to comply with local regulations.

China’s regulators intensified a clampdown on Friday, banning cryptocurrency transactions and mining, clarifying that overseas exchanges are barred from providing services to mainland investors via the internet.

Huobi Global said in a statement it will conduct an orderly exit of its existing mainland clients on the premise that the safety of their assets is guaranteed.

By Cheng Leng, Samuel Shen and Ryan Woo