Cryptocurrency Exchange Huobi to Clean up Existing Mainland Clients by End-2021

Huobi Global, a Chinese cryptocurrency exchange, announced on Sunday that it would cease accepting new mainland customers on Friday and would conclude contracts with mainland consumers by the end of the year to comply with local restrictions.

China’s officials tightened their grip on cryptocurrency transactions and mining on Friday, stating that overseas exchanges are not permitted to provide services to mainland investors via the internet.

Huobi Global said in a statement that it will perform an orderly withdrawal of its existing mainland clients on the assumption that their investments will be safe.