Top crypto exchange closes all China accounts

Huobi Global, one of the major crypto exchanges that caters to customers on mainland China, has said it will close all China-based user accounts later this year.

The exchange said in an announcement on Sunday that it has already discontinued account registration for new users on mainland China, effective on Friday, shortly after the People’s Bank of China released toughened measures in cracking down crypto trading activities. The exchange said in the Sunday announcement:

“Huobi Global will gradually retire existing Mainland China user accounts by 24:00 (UTC+8) on Dec 31, 2021, and ensure the safety of users’ assets. We will inform users of the specific arrangements and details through official announcements, e-mails, text messages, etc.”

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