Huobi and OKEx curtail services for Chinese residents

The cryptocurrency exchange Huobi has suspended a portion of its services and products in several countries, and has also stopped hosting miners in mainland China.

📣Official Notice📣

Certain leveraged investment and mining pool products are temporarily unavailable to NEW users from a FEW specified countries and regions.

*Most users are unaffected

Huobi will always stay compliant to protect users.

Updates👇https://t.co/fqATuQ84SI

— Huobi (@HuobiGlobal) May 24, 2021

According to the statement, the Seychelles-registered exchange has suspended trading of futures, margin investment instruments and exchange-traded products. It is unclear which jurisdictions are affected.

Huobi has also ceased providing mining-pool services for residents of mainland China.

“This year we plan a global expansion of Huobi Pool. To focus on expansion abroad, we are suspending the provision of corresponding services for new users in mainland China,” added the company.

Journalist Colin Wu noted that the exchange’s own pool will continue to operate, and hosting services will be available for Filecoin.

It should be emphasized that this does not refer to the mining pool service of Huobi Mining Pool, but the mining machine sales + custody service in Huobi Mining Pool.

— Wu Blockchain (@WuBlockchain) May 23, 2021

Huobi is not the only crypto exchange that has scaled back operations in China. A representative of OKEx told Decrypt that the company temporarily halted trading of the native OKB token on the p2p platform for Chinese citizens.

Earlier, the state Xinhua News Agency published a piece criticizing digital gold and mining. The authors noted risks and the negative impact of cryptocurrencies.

Earlier, Vice Premier Liu He said that authorities intend to take measures against the mining and trading of digital assets. Bitcoin fell below $37,000.

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