On the evening of September 24, the National Development and Reform Commission, the Central Bank, etc. issued a series of notices mentioning rectification of mining and virtual currency trading hype. In response to relevant policies, many exchanges, institutions, and projects have implemented notification requirements and issued measures to clear and withdraw users from mainland China.
On September 28, the exchange BitMart issued an announcement stating that, in response to local government regulatory policy requirements, BitMart will begin to clear out existing users who have been authenticated as Mainland China from now on. BitMart plans to complete the smooth and orderly liquidation work before 24:00 on November 30, 2021, under the premise of ensuring the safety of user assets . After the settlement is completed, BitMart will not provide any platform-related services to users in mainland China.
BiKi Exchange issued an announcement stating that in response to regulatory policy requirements, it has suspended the registration and KYC of new users in mainland China on September 26, 2021. BiKi will orderly clear out the existing users under the premise of ensuring asset safety and sufficient processing time, and will officially stop operations on November 30, 2021. After that, users will not be able to access the web and APP, and the assets that have not been withdrawn will enter Manual paid hosting program.
In addition, the platform currency will be repurchased for large orders at the 5-day average price on the announcement day. The repurchase period is from the announcement date to October 31, 2021. After October 31, the platform will no longer place orders for repurchase. Users Need to bear the loss of asset depreciation caused by not selling in time.
On the evening of September 27, the Spark Mine Pool announced the suspension of operations . The announcement stated that, in response to regulatory policy requirements, Spark Mine Pool has suspended access to new users in mainland China on September 24, 2021 (UTC+8). For the existing users in the mining pool, it is planned to complete the shutdown of all Spark mining pool businesses at home and abroad on September 30, 2021 (UTC+8) at 20:00 on the premise of ensuring the safety of user assets. Move out before then. The specific clearing and refunding rules will be notified to users through announcements, emails, and in-site letters.
AICoin recently announced that it will stop providing related services to users in China from September 27th . After logging in to AICoin, users need to confirm that they are not from China. The cryptocurrency market website Feihao issued an announcement on the 28th that in order to actively respond to the requirements of the Chinese government’s regulatory policy, from September 28, 2021, Feihao will stop providing relevant services to users in China .
Alibaba said on Monday that from October 8th, it will stop selling cryptocurrency mining equipment on its platform. Alibaba stated in the notice that after full evaluation, Alibaba will ban the sale of virtual currency mining machines in addition to the ban on the sale of virtual currency. Including but not limited to: 1. Hardware and software used to obtain virtual currency, such as Bitcoin mining machine; 2. Tutorials, strategies and software used to obtain virtual currency, such as mining tutorials. Alibaba also stated that it will close two sales categories related to mining.
In addition, after actual testing, IP addresses in mainland China are no longer able to log in to market information websites such as CoinGecko, CoinMarketCap, and TradingView.
Prior to this, the trading platform BHEX announced the permanent closure of platform services, and Huobi Global ordered the withdrawal of existing users in mainland China.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/after-a-full-crackdown-on-cryptocurrencies-and-mining/
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