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Chinese Crypto Exchanges Suspended Contract Trading, Traders Flock to OTC Desks

coingape.com 31 May 2021 07:51, UTC

China’s recent crackdown on crypto miners and traders has forced local crypto firms to withdraw their operations partially. In the latest development, Chinese journalist Wu Blockchain reports that owning to the regulatory changes, BitMart has decided to suspend contract trading services for all its users.

All the previous transactions can be closed, however, no new transactions can be opened. Thus, it is not possible for new users to open contract services as they won’t be able to transfer assets to contract wallets.

coingape.com