{"id":50315,"date":"2021-09-28T14:37:09","date_gmt":"2021-09-28T11:37:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50315"},"modified":"2025-09-02T17:25:43","modified_gmt":"2025-09-02T14:25:43","slug":"three-crypto-platforms-impose-restrictions-on-chinese-users","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/three-crypto-platforms-impose-restrictions-on-chinese-users\/","title":{"rendered":"Three crypto platforms impose restrictions on Chinese users"},"content":{"rendered":"<p>The Beijing government&#8217;s repressive policy toward the cryptocurrency industry has forced several companies to restrict services for clients in mainland China. One of them has announced a closure.<\/p>\n<p>On September 27, BitMart<a href=\\\"https:\/\/support.bmx.fund\/hc\/en-us\/articles\/4407501412891-BitMart-to-Stop-Serving-Mainland-China-Users\\\">banned<\/a> the registration of new users from China. The platform will cease serving existing clients on November 30, 2021.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cBitMart will no longer provide any services in mainland China. All affected users will be informed by e-mail, text messages and so on. Withdraw your assets as soon as possible,\u201d the notice states.<\/p>\n<\/blockquote>\n<p>An analogous statement was issued by the analytics platform Feixiaohao. Service to Chinese users will cease on September 28, 2021, according to a screenshot published by <a href=\\\"https:\/\/www.8btc.com\/article\/6691910\\\">8BTC<\/a>.<\/p>\n<p>The cryptocurrency exchange Biki <a href=\\\"https:\/\/m.biki.com\/noticeInfo\/5705\\\">stopped<\/a> registering new users from the PRC as of September 26. Existing clients can withdraw funds, and on November 30 the platform will cease operations. The platform&#8217;s tokens will be repurchased by October 31.<\/p>\n<p>Previously, Binance and Huobi <a href=\"https:\/\/u1f987.com\/en\/news\/binance-and-huobi-halt-new-user-registrations-in-mainland-china\">stopped allowing registrations<\/a> of new users in mainland China.<\/p>\n<p>The largest Ethereum mining pool SparkPool <a href=\"https:\/\/u1f987.com\/en\/news\/sparkpool-stops-servicing-users-in-china\">announced<\/a> the termination of service to Chinese users, and later <a href=\"https:\/\/u1f987.com\/en\/news\/sparkpool-to-cease-operations-in-china-and-abroad-f2pool-to-restrict-services-in-china\">ceased operations outside the country<\/a>.<\/p>\n<p>The online retail giant Alibaba <a href=\"https:\/\/u1f987.com\/en\/news\/alibaba-to-ban-sale-of-bitcoin-miners\">announced<\/a> a ban on the sale of Bitcoin miners on its platform.<\/p>\n<p>According to media reports, users from the PRC <a href=\"https:\/\/u1f987.com\/en\/news\/media-china-blocks-coingecko-and-coinmarketcap-services\">lost access<\/a> to CoinGecko and CoinMarketCap&#8217;s analytics services.<\/p>\n<p>As reported on 24 September, the National Development and Reform Commission of China <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-slips-below-42000-as-china-tightens-crypto-trading-regulation\">noted the negative environmental impact of mining and its &#8216;insignificant&#8217; contribution to the country&#8217;s economy<\/a>.<\/p>\n<p>The People&#8217;s Bank of China described as illegal the platforms that facilitate exchanges of digital assets between themselves or for fiat.<\/p>\n<p>Previously, regulator official Wen Xinyan called cryptocurrencies and stablecoins a threat to the traditional financial system.<\/p>\n<p>Subscribe to ForkLog news on Facebook!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Beijing&#8217;s repressive policy toward the cryptocurrency industry has forced several companies to restrict services for clients in mainland China. One of them has announced a closure.<\/p>\n","protected":false},"author":1,"featured_media":50316,"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":[133,36],"class_list":["post-50315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50315","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=50315"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50315\/revisions"}],"predecessor-version":[{"id":50317,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50315\/revisions\/50317"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/50316"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=50315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=50315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=50315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}