Cryptocurrencies, which have been the subject of constant debate since the day they entered the market and people are hesitant to trust or not, are officially recognized by some states, but are subject to various bans by some states. As a matter of fact, those who are most affected by these bans are crypto money investors.
The other day, Bloomberg announced that all transactions related to cryptocurrencies are banned by the People’s Bank of China, and those who violate the ban will be penalized. While the crypto money market, which has been at low levels for a long time, was in the recovery process, after this ban, the markets entered a downward trend again and even touched below $ 40 thousand. Along with the ban, cryptocurrency exchanges also started to stop transactions in China.
Chinese accounts suspended:
Huobi Global, China’s largest cryptocurrency exchange, announced that all accounts belonging to Chinese users will be phased out by the end of this year, that is, until December 31, 2021. After this announcement, Huobi’s token HT, which saw its highest level in May and was $ 40, fell to the levels of $ 5.85. In addition to Huobi Global, BHEX, a medium-sized exchange, has also decided to completely cease its operations.
New registrations were stopped the other day:
Following the Chinese government’s restrictions, the People’s Bank of China declared transactions related to crypto assets illegal, and after this decision, Huobi, China’s largest cryptocurrency exchange, stopped new registrations. Huobi prevented Chinese users from signing up to the stock market with their mobile phone numbers, thus making the first decision that the ban from China was effective.
40514
