{"id":103982,"date":"2021-05-24T14:47:01","date_gmt":"2021-05-24T06:47:01","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=388933"},"modified":"2021-05-24T14:47:01","modified_gmt":"2021-05-24T06:47:01","slug":"amid-stern-warnings-from-china-crypto-firms-huobi-and-okex-halt-a-few-services","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2021\/05\/24\/amid-stern-warnings-from-china-crypto-firms-huobi-and-okex-halt-a-few-services\/","title":{"rendered":"Amid Stern Warnings from China Crypto Firms Huobi and Okex Halt a Few Services"},"content":{"rendered":"
\"MediaIntel.Asia\"<\/a><\/div>\n

2.3 Related Rumors of China and Bitcoin\u2019s Uneasy Relationship Continue
\nIt was said on many occasions in 2017 that bitcoin ( BTC ) was resilient to negative news from China, after the tumultuous year of bad news from China back in 2013.
\n2021 has been a whole lot different, and it seems the policy of the Chinese government toward cryptocurrency, in general, and the mining industry is still meaningful to a lot of people. After the news on Friday , two days later, reports tied to the cryptocurrency companies Huobi and Okex has crypto proponents discussing China once again. Images shared by the local Chinese journalist Wu Blockchain on Sunday. (Left) Huobi\u2019s announcement discontinuing mining services to customers residing in mainland China. (Right) Xinhua News Agency about bitcoin mining and trading.
\nOn Sunday, the regional publication chainnews.com published a report that detailed Huobi was terminating miner sales and crypto cloud hosting services to clients based in mainland China. In addition to chainnews.com, the local Chinese journalist Wu Blockchain discussed the situation on Twitter.
\n\u201cHuobi Pool stated that it will stop providing services to Chinese users,\u201d the reporter wrote. \u201cThose who have already purchased bitcoin mining machines will be removed from the shelves, a interesting thing is that Huobi said that FIL mining machines will not be affected,\u201d he added. Local Reporter: \u2018We Cannot Underestimate the Impact of Chinese Investors\u2019
\nThe journalist also said that the \u201cexpression of the Chinese government is to crack down on bitcoin mining.\u201d Wu Blockchain further detailed that Okex has stopped using the \u201cOKB\u2019s fiat currency (RMB)\u201d and the exchange\u2019s platform coin tumbled after the news.
\n\u201cThe two major exchanges in China have taken only minimal precautionary measures. Huobi has delisted the sale and custody of mining machines for Chinese people, and Okex has stopped trading platform currency with RMB, they are still waiting [for] tomorrow,\u201d he added.
\nIn addition to Wu Blockchain\u2019s tweet, Huobi gave a statement to the global macro and policy reporter David Pan. \u201cDue to recent dynamic changes in the market, in order to protect the interests of investors, a portion of services such as futures contracts, ETP, or other leveraged investment products are temporarily not available to new users from a few specified countries and regions,\u201d the Huobi statement shared with Pan said.
\nFurthermore, Wu Blockchain further shared an article from Xinhua News Agency that attacks \u201cbitcoin mining and trading in more detail.\u201d The reporter also notes that there is no \u201cdefinite information\u201d on cracking down on bitcoin mining and trading. Still, the local reporter believes these issues will continue into \u201cthe next week or even a month.\u201d
\n\u201cChinese investors still account for more than 60% of the trading volume of perpetual contracts,\u201d the reporter concluded . \u201cChinese miners hold large amounts of Bitcoin and Ethereum. We cannot underestimate the impact of Chinese investors on the cryptocurrency market.\u201d
\nWhat do you think about all the rumors swirling around China and cryptocurrency again? Let us know what you think about this subject in the comments section below. Sending<\/p>\n

This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

2.3 Related Rumors of China and Bitcoin\u2019s Uneasy Relationship Continue
\nIt was said on many occasions in 2017 that bitcoin ( BTC ) was resilient to negative news from China, after the tumultuous year of bad news from China back in 2013.
\n2021 has been a…<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[144,1527,477,194,472,465,1242,445],"tags":[5567,7705,6601,3472,10333,10209,6823,10315,8864],"class_list":["post-103982","post","type-post","status-publish","format-standard","hentry","category-china","category-currency","category-investment","category-news-chinese-law","category-renminbi","category-social-media","category-twitter","category-xinhua","tag-bitcoin","tag-blockchain","tag-china-technology","tag-chinese","tag-crypto","tag-ethereum","tag-fintech","tag-media-intelligence","tag-news-media"],"_links":{"self":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/103982"}],"collection":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/users\/253"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/comments?post=103982"}],"version-history":[{"count":1,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/103982\/revisions"}],"predecessor-version":[{"id":103983,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/103982\/revisions\/103983"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=103982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=103982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=103982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}