Huobi is China’s first significant exchange that eliminates existing Chinese users. Whether other exchanges will imitate is currently a topic of concern. It is now sharing some details about its withdrawal from the Chinese market.
Huobi unveils its China withdrawal details
Source: Wu Blockchain
Huobi announced the details of its withdrawal from China. The deposit function will be delisted on December 14th, spot trading will be delisted on December 15th, and fiat(CNY) trading will be delisted on December 31st. However, this will not affect non-Chinese users.
The registration suspension for new mainland Chinese users was first announced a week ago – on September 25th. The next day, Huobi announced it was withdrawing from that region altogether, subject to the regulations. Tight crypto regulations were recently introduced. of the Chinese government.
Several local crypto exchanges are pursuing lawsuits – Binance has temporarily stopped opening accounts for newly registered users, CoinEx has done the same, Renrenbit of China’s “OTC king” Zhao Dong, closed door completely.
Read more:
- Huobi Will Gradually Retire All Of Existing Chinese Users By The End Of Year, Tokens Are Being Moved From Exchanges
- More Crypto Exchanges Are Facing Pressure In China