The cryptocurrency exchange Huobi no longer offers derivatives trading in cryptocurrencies to residents of China, the United Kingdom, and several other countries. This is evidenced by the updated user agreement.
Huobi, China’s largest exchange, updated its user agreement to prohibit users in China, the United Kingdom and other places from using derivatives to trade. pic.twitter.com/RhiwhJHANb
— Wu Blockchain (@WuBlockchain) June 28, 2021
According to the document, Chinese residents can still conduct spot cryptocurrency trading on Huobi.
In May 2021, three associations affiliated with the central bank issued a joint notice prohibiting companies to support a crypto-related business.
In the same month, Vice Premier Liu He said that authorities intended to take measures against cryptocurrency mining and Bitcoin trading.
Later, Xinhua News Agency criticised digital gold and its mining methods.
Later in state media they clarified that cryptocurrency operations are possible if citizens are willing to take on such risk. At the same time, advertising of “profitable assets” will be tightened.
On May 24, ForkLog reported that Huobi’s mining pool had suspended services for PRC residents.
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