Huobi has implemented a safeguard that prevents mainland Chinese individuals from registering on its platform by preventing the creation of accounts with Chinese mainland phone numbers.
To comply with China’s recent crypto crackdown, Huobi has introduced a safeguard that prevents mainland Chinese individuals from registering on its platform by blocking the addition of accounts using Chinese mainland phone numbers.
Huobi is one of the first big crypto exchanges to respond to China’s recent crackdown order, which stated that any crypto-related activities, including those that allow Chinese customers to exchange fiat currencies for crypto assets, will now be treated as illegal.
A user wrote in frustation that,
“No more fud from China again, everything have done to ban, binance and huobi suspend user from mainland China, miners going from China, China can’t ban bitcoin any more.”
Another user adviced to use Metamask instead of Binance and Huobi.
The exchange said in a statement on Sunday that it had already stopped accepting new account registrations from mainland Chinese customers as of Friday, only days after the People’s Bank of China announced tougher anti-crypto trading measures.
Huobi’s token price has lost approximately 80 percent of its previous value since the ban.
OKEx, a large crypto exchange that caters to Chinese users, has yet to make any announcements regarding account suspension in China.
Binance, on the other hand, has suspended new mainland China user registrations using Chinese mobile phone numbers, according to The Block’s verification of the user registration procedure.
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