August 5, 2021

Newspay

Bitcoin & Ethereum Blockchain News

Crypto Exchange Huobi Suspending Services for New Users in China

In a statement to Reuters, cryptocurrency exchange Huobi has confirmed suspending its services in Mainland China amid a crackdown.

Source: u.today

As reported by U.Today, Huobi Pool stopped providing mining hosting services to Chinese customers on May 23.

The company has also halted the sales of its cryptocurrency mining machines. Last week, a top Chinese regulator called for clamping down on Bitcoin mining and trading, causing a significant market correction.

The BTC.TOP pool suspended its Chinese operations last week. Founder Jiang Zhuoer claims that China will lose its Bitcoin mining crown to the U.S.:

Eventually, China will lose crypto computing power to foreign markets as well.