Bitcoin

CoinEx Crypto Exchange removes all Chinese users from the mainland in October

CoinEx cryptocurrency exchange is ceasing to operate in mainland China to comply with local anti-crypto regulations.

The company officially announced on Sept. 30 that it would completely remove user accounts that have been verified as mainland Chinese citizens, as well as those associated with cell phone numbers from China.

The exchange has urged users based in mainland China to withdraw their crypto assets from the platform by October 31, 2021. CoinEx then plans to deactivate accounts that don’t do so starting September 30th. ”Exchange status

Despite CoinEx’s aggressive actions to shut down users from mainland China, the exchange will still allow users to withdraw assets after October 31st and will only support withdrawals, ”explained CoinEx.

CoinEx also noted that it had previously blocked access and stopped registering new users from mainland China in March 2019, and urged them to complete the withdrawals as soon as possible. “In order to continue to comply with local laws and Chinese government regulations, we will be fully recruiting users in mainland China,” the company said.

The exchange did not immediately respond to Cointelegraph’s request for comment.

Related: China’s Crypto Hold: Bitcoin Nodes and OTC Desks Fight

CoinEx is a major global cryptocurrency exchange that was founded in December 2017. At the time of writing, CoinEx’s daily trading volume is around $ 85 million, according to data from CoinMarketCap.

With the latest move, CoinEx is joining a growing number of crypto companies that are suspending operations in mainland China in response to the local government’s announcement last week of another crypto ban. Large crypto exchanges like Binance and Huobi then shut down some services in mainland China, while large Ethereum mining pools like Sparkpool and BeePool were forced to shut down entirely.

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The company officially announced on Sept. 30 that it would completely remove user accounts that have been verified as mainland Chinese citizens, as well as those associated with cell phone numbers from China. The company officially announced on Sept. 30 that it would completely remove user accounts that have been verified as mainland Chinese citizens, as well as those associated with cell phone numbers from China. The company officially announced on Sept. 30 that it would completely remove user accounts that have been verified as mainland Chinese citizens, as well as those associated with cell phone numbers from China. The company officially announced on Sept. 30 that it would completely remove user accounts that have been verified as mainland Chinese citizens, as well as those associated with cell phone numbers from China. The company officially announced on Sept. 30 that it would completely remove user accounts that have been verified as mainland Chinese citizens, as well as those associated with cell phone numbers from China. The company officially announced on Sept. 30 that it would completely remove user accounts that have been verified as mainland Chinese citizens, as well as those associated with cell phone numbers from China. The company officially announced on Sept. 30 that it would completely remove user accounts that have been verified as mainland Chinese citizens, as well as those associated with cell phone numbers from China. The company officially announced on Sept. 30 that it would completely remove user accounts that have been verified as mainland Chinese citizens, as well as those associated with cell phone numbers from China. The company officially announced on Sept. 30 that it would completely remove user accounts that have been verified as mainland Chinese citizens, as well as those associated with cell phone numbers from China. The company officially announced on Sept. 30 that it would completely remove user accounts that have been verified as mainland Chinese citizens, as well as those associated with cell phone numbers from China. 
Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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Tags: # Cryptocurrencies# Exchange of cryptocurrencies#Bitcoin#Government#LawChinaregulation
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