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With the increase in restrictions in China, more than 20 companies operating in the field of digital currency have left the country


Recent statistics show that more than 20 companies operating in China have been forced to close down due to new restrictions on digital currency-related activities.

to the Report CryptoSlit, China’s ban on digital currencies, has had a major impact on the country’s digital asset economy. Recent statistics show that at least 20 digital currency companies have been forced to stop providing services to Chinese users or shut down their businesses altogether.

A report published in the China Securities Journal shows that the digital currency exchanges Huocoin, Bainance, BiKi, BHEX and several other exchanges are among the companies that have been forced to close their operations. China shut down.

The report states:

More than 20 companies operating in the field of digital currency have announced that they will stop providing services to Chinese users and will leave the Chinese market altogether.

Digital currency mining companies such as Xinghuo Mine Pool, Ethereum’s largest mining pool, Nbminer, a manufacturer of Miner graphics card management software, and many others, have stated in various statements that they provide services to users. They will stop the Chinese.

Digital currency market information platforms are also included in these restrictions. Many not-so-small programs operating in the field have also announced that they will stop providing services to Chinese users in order to comply with Chinese law.

Some popular digital currency websites, such as CoinGecko and CoinMarketCap, are currently blocked by Chinese authorities and are not accessible to Chinese citizens.

Ding Feipeng, a director at Beijing Liantong Law Firm, said of the closures:

It does not matter if the subject of the legal activities of digital currency businesses in China or abroad, whether employees in China or abroad, in any case, as long as they serve Chinese users, that platform and its employees will face the same criminal penalty. شد.

The report also said that the domestic digital currency market in China has been hit hard and there is probably no chance of reviving it.

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