Huobi Crypto Exchange Suspends all China-Based User Accounts

Huobi Global stopped letting traders use mainland China mobile numbers to register new accounts. This comes after the People’s Bank of China said all crypto-related transactions will be considered as illegal activities on September 24.

Huobi Crypto Exchange Suspends all China-Based User Accounts
Huobi Crypto Exchange | Image: Optimisus

The crypto exchange posted the news on its official website with all the details on September 26.

Huobi Global mentioned that to comply with local laws and regulations, it has ceased account registration for new users in Mainland China, which took effect on September 24, 2021 (UTC+8).

In addition, Huobi Global says it will gradually retire existing Mainland China users on December 31, 2021, by 24:00 (UTC+8) to ensure the safety of users' digital assets.

Moreover, Huobi Global apologized for this issue caused and thanked its community for understanding and supporting the crypto exchange.

Binance, on the other hand, announced it has already suspended new mainland China user registration using Chinese mobile phone numbers, based on the user registration process.

However, the OKEx crypto exchange that caters to Chinese users has not yet made any announcement about user account suspension in China.