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BREAKING
Al Mayadeen's correspondent in Lebanon: Israeli occupation forces carried out an explosion in the southern border town of Kfar Kila
Russian Ministry of Defense: 37 Ukrainian drones destroyed in 4 hours over regions of Russia and the Black Sea.
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.

Major Cryptocurrency Exchangers Block Chinese Users After Crypto Ban

  • By Al Mayadeen
  • Source: Agencies
  • 27 Sep 2021 12:28
2 Min Read

Overseas exchanges have started their crackdown on cryptocurrency users in China.

  • x
  • Major Cryptocurrency Exchangers Block Chinese Users After Crypto Ban
    Huobi, Binance, and more are shutting down user accounts on mainland China. 

China's largest cryptocurrency exchanges have barred new accounts and clients from investing and trading cryptocurrencies in mainland China upon the government's latest ban on cryptocurrencies. 

China's top regulators stepped up their crackdown on cryptocurrencies on Friday, 24th of September, imposing a blanket ban on all crypto transactions and mining and putting pressure on Bitcoin and other major coins, as well as crypto and blockchain-related companies. 

Overseas exchanges, as part of the ban, are prohibited from providing services to users in China, as all virtual-currency activities became illegal. 

Huobi, one of the world's largest cryptocurrency exchanges, said Sunday that all already-existing accounts will come to a halt on midnight, Dec 31, 2021. 

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Furthermore, Binance, also one of the world's largest cryptocurrency exchanges, announced that opening accounts issued by Chinese cellphone numbers are blocked; the Binance application has also been rendered unavailable for download in the country. 

TokenPocket, which is a digital currency wallet, has also announced that they will cut services to users on the mainland in fear of violating the government's latest policies. 

"On the very day we saw the notice, we started to take corrective measures," Du Jun, Huobi co-founder said to Reuters.

Share values significantly decreased upon the ban: Huobi Tech decreased 23%, and OKG Technology Holdings Ltd - the company which owns OKcoin - decreased 12%. 

For China, digital coins have been a main concern for financial stability and control - however, the ban on cryptocurrencies has driven citizens to move and invest in digital currencies offshore. 

 

  • China
  • Cryptocurrency

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