Cryptocurrency exchange KuCoin has announced the closure of all mainland Chinese customer accounts after the People's Bank (PBOC) stepped up measures to combat cryptocurrency trading.
On October 3, the crypto exchange said that all users from mainland China will have to close their accounts and withdraw their funds from the platform by December 31, 2021. The company decided to leave China following an announcement from local authorities in late September.
We strongly encourage eligible clients to move their assets to other platforms before 24:00 (UTC+8) on December 31, 2021.
KuCoin is the third major cryptocurrency exchange to exit the country. On September 26, Binance blocked the registration of new accounts using Chinese mobile numbers, and Huobi Global said it would delete all accounts of Chinese citizens by the end of the year.
More than 18 platforms offering cryptocurrency-related services announced that leavingthe Chinese cryptocurrency market.
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