Back to the list

More And More Crypto Exchanges And Miners Are Leaving China

Anna Martynova

According to the major news outlet China Securities Journal, a cryptocurrency ban in China is crowding out more than 20 companies from mainland China in crypto-related industries. Among them is the largest crypto exchange Huobi. The Inner Mongolia Autonomous Region of China recently closed 45 crypto mining projects.

On September 24, Huobi exchange stopped registering new user accounts. Two days later, the upcoming leaving was announced. Huobi has encouraged its customers to transfer their funds to other platforms and wallets, promising to completely shut down operations in mainland China by the end of December. BiKi, BHEX, CoinEx and Renrenbit follow Huobi's lead.

On September 24, the largest Ethereum mining pool, Spark Pool, also decided to stop working with Chinese users. A similar decision was made by NBMINER, which produces software for mining machines.

Image: TechNode

Back to the list