{"id":50166,"date":"2021-09-26T09:47:04","date_gmt":"2021-09-26T06:47:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50166"},"modified":"2025-09-02T16:30:24","modified_gmt":"2025-09-02T13:30:24","slug":"binance-and-huobi-halt-new-user-registrations-in-mainland-china","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-and-huobi-halt-new-user-registrations-in-mainland-china\/","title":{"rendered":"Binance and Huobi halt new-user registrations in mainland China"},"content":{"rendered":"<p>Bitcoin exchanges Binance and Huobi halted new-user registrations in mainland China after a fresh wave of government crackdowns on cryptocurrencies, according to <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-25\/crypto-exchange-stops-taking-china-users-as-beijing-widens-ban\\\">Bloomberg<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>The companies barred customers from using Chinese phone numbers to register new accounts. According to the agency, residents of Hong Kong can still create wallets on both platforms.<\/p>\n<p>\\n\\n<\/p>\n<p>In a conversation with Bloomberg, a Binance spokesperson said the company does not operate in China and blocks the relevant IP addresses. He did not comment on the ban on the use of local telephone numbers.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cBinance takes its obligations to comply with regulatory requirements very seriously and strives to follow the directives of local regulators wherever we operate,\u201d he said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<div class=\\\"wp-block-text-wrappers-update-2 article_update\\\"><time class=\\\"gtb_text-wrappers_update_time\\\">26 September 2021 | 13:48<\/time><span class=\\\"gtb_text-wrappers_update_head\\\">Update: <\/span>\\n<\/p>\n<p>Huobi <a href=\\\"https:\/\/www.huobi.com\/support\/en-us\/detail\/54886961978434\\\">published<\/a> a notice indicating that it stopped registering users from mainland China on 24 September 2021. The reason was the company\\&#8217;s desire to comply with local laws. By 31 December the platform will delete existing accounts of PRC residents.<\/p>\n<p>\\n<\/p><\/div>\n<p>\\n\\n<\/p>\n<p>Wu also drew attention to Whale Alert messages indicating that more than 22,000 BTC (~$928 million at the exchange rate at the time of writing) had been moved from Huobi addresses. He stressed that if the exchange is attempting to cope with a flood of withdrawal requests, these should be transfers from cold wallets to hot wallets.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Not 10,000, it is 22,000 BTC.<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1442002129854480395?ref_src=twsrc%5Etfw\\\">September 26, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-slips-below-42000-as-china-tightens-crypto-trading-regulation\">On 24 September came news of <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-slips-below-42000-as-china-tightens-crypto-trading-regulation\">another wave of crackdowns in China<\/a> on the cryptocurrency industry<\/a>. The National Development and Reform Commission of China pointed to the negative environmental impact of mining and its <a href=\"https:\/\/u1f987.com\/en\/news\/pboc-views-cryptocurrencies-as-a-threat-to-the-traditional-financial-system\">insignificant<\/a> contribution to the country\\&#8217;s economy.<\/p>\n<p>\\n\\n<\/p>\n<p>The People\\&#8217;s Bank of China (PBoC) characterised as illegal the activities of platforms that facilitate the exchange of digital assets among themselves or into fiat. Previously, the director of the PBoC\\&#8217;s Payments and Settlements Department, Wen Xinxian, described cryptocurrencies and stablecoins <a href=\"https:\/\/u1f987.com\/en\/news\/pboc-views-cryptocurrencies-as-a-threat-to-the-traditional-financial-system\">as a threat to the traditional financial system<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>As Circle CEO Jeremy Allaire <a href=\"https:\/\/u1f987.com\/en\/news\/circle-chief-urges-not-to-imitate-china-on-crypto-regulation\">urged other countries not to follow China\\&#8217;s example in regulating cryptocurrencies<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>A similar view was voiced by US Republican Senator Pat Toomey. He said that Beijing\\&#8217;s actions open up <a href=\"https:\/\/u1f987.com\/en\/news\/senator-pat-toomey-chinas-crackdown-on-crypto-is-a-big-opportunity-for-the-united-states\">new opportunities in the digital-asset industry<\/a> for the United States.<\/p>\n<p>\\n\\n<\/p>\n<p>Read ForkLog\\&#8217;s bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin exchanges Binance and Huobi halted new-user registrations in mainland China after a fresh wave of government crackdowns on cryptocurrencies.<\/p>\n","protected":false},"author":1,"featured_media":50167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1166,133,230],"class_list":["post-50166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-centralized-exchanges-cex","tag-china","tag-huobi"],"aioseo_notices":[],"amp_enabled":true,"views":"50","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=50166"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50166\/revisions"}],"predecessor-version":[{"id":50168,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50166\/revisions\/50168"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/50167"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=50166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=50166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=50166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}