Crypto exchange giants Binance and Huobi cut back on China users after ban


Source: banklesstimes.com banklesstimes.com

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Two of the world’s greatest [crypto exchanges](/cryptocurrency/apps/) , Huobi Global and Binance, have halted new account registration of Chinese users. This follows the announcement by the People’s Bank of China that all crypto-related transactions will be considered illicit financial activity. Here’s what’s happening in China. China announces crypto ban On Friday 24, through the People’s Bank of China (PBOC) and nine other government agencies, China shared a statement to clarify that cryptocurrency transactions and mining are illegal. This is the country’s strongest stance against the non-government-issued currencies to date. Furthermore, this latest announcement is the culmination of years of attempted...