Crypto exchange giants Huobi, Binance stop accepting users from China

Two of the world’s largest bitcoin exchanges Huobi and Binance have stopped new registrations for Chinese users in compliance with China's cryptocurrency ban.

The People’s Bank of China (PBOC) announced that all crypto-related transactions would be considered illicit financial activity.

However, new sign-ups are still available for Hong Kong users on both platforms.

A Binance spokesperson said the company does not have exchange operations in China and blocks Chinese IP addresses.

Mainland China mobile numbers would also no longer be allowed for registering new accounts.

Binance said it is committed to complying with local regulator requirements wherever it operates.