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KuCoin to Ban All Chinese Users by the End of 2021

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Sun, 10/03/2021 - 09:03
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Alex Dovbnya
KuCoin has become the latest exchange to ban all Chinese users
KuCoin to Ban All Chinese Users by the End of 2021
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Cryptocurrency exchange KuCoin has announced on Sunday that all of its users from mainland China have to withdraw funds from the platform until Dec. 31.

The company says that it moved to purge Chinese customers in order to comply with new regulatory measures.

Related
China Reportedly Preparing More Anti-Crypto Policies
As reported by U.Today, China recently intensified its crackdown on the cryptocurrency sector with the most severe restrictions to date. All financial activities linked to cryptocurrencies are deemed to be illegal in China.

Users who will be affected by the ban will keep receiving emails from KuCoin about the deadline. 

Last week, Huobi, one of the leading crypto exchanges, made a similar announcement about retiring all of its Chinese users by the end of the year.     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.