{"id":173183,"date":"2021-09-26T21:40:07","date_gmt":"2021-09-26T16:10:07","guid":{"rendered":"https:\/\/technosports.co.in\/?p=173183"},"modified":"2021-09-26T21:40:12","modified_gmt":"2021-09-26T16:10:12","slug":"huobi-and-binance-block-chinese-users-from-registering-on-their-platforms","status":"publish","type":"post","link":"https:\/\/technosports.co.in\/huobi-and-binance-block-chinese-users-from-registering-on-their-platforms\/","title":{"rendered":"Huobi and Binance block Chinese users from registering on their platforms"},"content":{"rendered":"\n

In the latest Crypto news, Huobi and Binance, have halted new registrations for Chinese users, taking one of the first actions to comply with Beijing\u2019s latest crypto ban. In the latest news, the Exchange operators have stopped letting traders use mainland China mobile numbers to register new accounts. This comes after the People\u2019s Bank of China last week stated that all crypto-related transactions will be considered as illicit financial activity.<\/p>\n\n\n\n

However, ironically both Huobi and Binance still accept sign-ups for Hong Kong users, but mainland China users are no longer eligible for new account creation. Regarding this issue, Huobi declined to comment however, a Binance spokesperson said that the company doesn\u2019t have exchange operations in China and blocks Chinese IPs.<\/p>\n\n\n\n

\u201cBinance takes its compliance obligations very seriously and is committed to following local regulator requirements wherever we operate.\u201d<\/em><\/p>\n\n\n\n

China has been strictly cracking down on Cryptocurrency, and the latest announcement issued by the central bank along with nine other government agencies including the public security ministry is a nail in the coffin regarding crypto operations in the country which the country is attempting to crack down on the rise of Bitcoin and its peers since years.<\/p>\n\n\n\n