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Cryptocurrency exchange Huobi to clean up existing mainland clients by end-2021

Published by maria gbaf

Posted on September 27, 2021

1 min read

· Last updated: February 2, 2026

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Cryptocurrency exchange Huobi Global halts new mainland client registrations - Global Banking & Finance Review
An image illustrating the Huobi Global cryptocurrency exchange logo and trading interface, related to their decision to end contracts with mainland clients by year's end to comply with Chinese regulations.
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Huobi to Conclude Mainland Client Contracts by Year-End

BEIJING (Reuters) – Chinese cryptocurrency exchange Huobi Global said on Sunday it had stopped taking new mainland customers from Friday and would end contracts with mainland clients by the end of the year to comply with local regulations.

China’s regulators intensified a crackdown https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24 on Friday, banning cryptocurrency transactions and mining, clarifying that overseas exchanges are barred from providing services to mainland investors via the internet.

Huobi Global said in a statement it will conduct an orderly exit of its existing mainland clients on the premise that safety of their assets is guaranteed.

(Reporting by Cheng Leng, Samuel Shen and Ryan Woo; Editing by William Mallard)

Key Takeaways

  • Huobi Global stops new mainland client registrations.
  • Contracts with existing mainland clients to end by 2021.
  • Move complies with China's intensified crypto regulations.
  • China bans cryptocurrency transactions and mining.
  • Huobi ensures asset safety during client exit.

Frequently Asked Questions

What is the main topic?
The main topic is Huobi Global's decision to end contracts with mainland clients by the end of 2021 due to China's crypto regulations.
Why is Huobi ending contracts with mainland clients?
Huobi is ending contracts to comply with China's intensified crackdown on cryptocurrency transactions and mining.
What actions has China taken against cryptocurrencies?
China has banned cryptocurrency transactions and mining, and clarified that overseas exchanges cannot serve mainland investors.

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