Binance and Huobi Block Users From Creating New Accounts in China As Crypto Ban Looms: Report

Binance and Huobi Block Users From Creating New Accounts in China As Crypto Ban Looms: Report


Digital asset exchange operators Binance and Huobi are reportedly blocking new user registration in response to China’s latest measures against the crypto space. 

Bloomberg reports that Binance and Huobi are still accepting new sign-ups from Hong Kong, but are no longer allowing new registration for traders with mainland China-based mobile phone numbers.

 

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On September 24th, China banned all business activities related to the crypto industry including the trading of digital assets such as Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).

Binance did not comment on halting registration for Chinese users, but a spokesperson says that the firm does not have an exchange operation in China and is blocking Chinese IP addresses. 

“Binance takes its compliance obligations very seriously and is committed to following local regulator requirements wherever we operate.”

Meanwhile, Huobi says it has ceased account registration for new users in China effective September 24th to comply with the nation’s laws and regulations. It is also terminating its

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