China Crypto Crackdown: Exchanges that gave in to the Regulators

HeadlinesNewsChina Crypto Crackdown: Exchanges that gave in to the Regulators

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China Crypto Crackdown: Exchanges that gave in to the Regulators

Coingape19 days ago
Published on September 27, 2021 06:49 GMT+00:00edited on September 28, 2021 13:29 GMT+00:00

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Amid the expanding Chinese Crypto crackdown, many exchanges have waved the white flag to the regulators. While the authoritarian government stands a strong ground against the decentralized sphere, the crypto platfroms suffer another blow with every new anti-crypto law. Two of the world’s largest cryptocurrency exchanges, Huobi and Binance have given up the fight for crypto in the Chinese territory.

Huobi Exchange

Followed by the People’s Bank of China’s Friday update against virtual currency-related activities, including trading in the nation, Huobi announced the suspension of new account openings for mainland China users. Furthermore, the Chinese central bank added overseas exchanges facilitating crypto services in the country to the crackdown list. Huobi, being one of these exchanges, …