Trading
Cryptocurrency exchange Huobi to clean up existing mainland clients by end-2021
Published by maria gbaf
Posted on September 27, 2021
1 min readLast updated: February 2, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on September 27, 2021
1 min readLast updated: February 2, 2026
Huobi Global will end contracts with mainland clients by 2021 to comply with China's crypto regulations, ensuring asset safety.
BEIJING (Reuters) – Chinese cryptocurrency exchange Huobi Global said on Sunday it had stopped taking new mainland customers from Friday and would end contracts with mainland clients by the end of the year to comply with local regulations.
China’s regulators intensified a crackdown https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24 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 safety of their assets is guaranteed.
(Reporting by Cheng Leng, Samuel Shen and Ryan Woo; Editing by William Mallard)
The main topic is Huobi Global's decision to end contracts with mainland clients by the end of 2021 due to China's crypto regulations.
Huobi is ending contracts to comply with China's intensified crackdown on cryptocurrency transactions and mining.
China has banned cryptocurrency transactions and mining, and clarified that overseas exchanges cannot serve mainland investors.
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