Advertisement
AD

Main navigation

Huobi Suspends Registration of New Users from Mainland China

Advertisement
Sat, 25/09/2021 - 10:00
Huobi Suspends Registration of New Users from Mainland China
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents
Advertisement

Chinese crypto journalist Colin Wu has tweeted that Huobi, the largest crypto trading venue in China, has temporarily stopped opening accounts for new users in mainland China over the new upsurge of regulatory pressure in the country.

Huobi responds to the new China crypto ban

The 8BTC news agency that covers crypto news about China has also tweeted that Mainland China has been removed from the country/region selection list for Huobi APP registration. Taiwan and Hong Kong still remain though.

Wu continues, saying that, in his view, the new strict regulatory policy towards crypto in the country is likely to force crypto exchanges and other crypto-related businesses relocate to Singapore and Bitcoin mining companies to leave the country as well. Wu has called the US as one of the target locations where crypto miners are likely to move from China.

The reason for that, he says, is the US having plenty of capital and electricity for miners. As for Singapore, its authorities are crypto-friendly and the country has a similar culture to China.

Related
“Rich Dad Poor Dad” Author Believes He Knows Real Reason for New Chinese Crypto Ban

Cobo Wallet relocates to Singapore with $40 million of new funds

A leading crypto wallet Cobo has relocated its headquarters from Beijing to Singapore after raising $40 million in Series B funding round. The company plans to launch decentralized finance as a service (DFaaS) with this money.

Wu has commented that the majority of Chinese crypto institutions are relocating their headquarters to Singapore from China now, following the new crackdown regulatory step from the authorities.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Bridging the Data Trust Gap: 2024 RegTech Confab Set to Unlock Africa’s Economic Potential
ApeX Protocol Partners with Alertatron to Enhance Automated Trading Capabilities
TeachMeCode Institute Announces Grand Opening of Cutting-Edge Dubai School
RHUNA Launches to Revolutionize the Events and Entertainment Industry with Fintech Innovation
Our social media
There's a lot to see there, too

Popular articles