Before the end of the year, 15 cryptocurrency exchanges pulled out of China and left the domestic market one after another.

Following the announcement of "Notice", Huobi, Binance and OKEx announced that they will withdraw from the Chinese market within a year. By the time the hearing day came, 15 trading companies had announced their withdrawal from major Chinese companies, and most of the domestic partners of various exchanges had been or will be phased out.

Since December, the virtual currency trading platform Huobi has started posting internal notices warning users in China to withdraw their assets, and it is clear that the deposit for users in China will be closed on December 14. OTC Yuan delisting on December 31, with currency trading functions restricted by users in Mainland China.

On September 24, the financial institutions jointly announced that the "Notice on the Protection and Management of Risks Relating to Exaggerated Advertising in Virtual Currency Transactions" (hereinafter referred to as "Notice") is cooperating for the first time with 10 departments, including Public Security. Lawyers and jurists have repeatedly said that the virtual market affected by trade is embezzlement and exposes them.

Following the announcement of "Notice", Huobi, Binance and OKEx announced that they will withdraw from the Chinese market within a year. As the day of the meeting approached, a Blockchain Daily reporter reported that 15 large companies have announced their withdrawal from large Chinese companies and most of the Multiple Exchange Focus Participations have been canceled or will be terminated.

An insider has identified that national executives have highlighted their virtual profits to the 'Blockchain Daily' reporter, and they have clarified the confusion that is not the case. The future of cryptocurrency. Trade is not an option but based on general terms the focus is on foreign trade.

Huobi launches Timenode for continental user accounts

15 stock exchanges announced the withdrawal from mainland China

Huobi Global announced an internal letter to APP on December 14 at 11:00 p.m. to end the deposit period for users in mainland China and on December 15 at 11:00 a.m. to restrict currency trading to consumers in mainland China. December 31st 24h00 Establishment market OTC CNY.

Previously, Binance had announced a "Notice of withdrawal from the C2CCNY industry and consumer products in Mainland China," which Binance C2C will be announced on December 31, 2021 at midnight, in accordance with federal regulations. The CNY industry sector has been developed and at the same time the users of the platform have been identified.

Binance said in a statement that it will identify users, once the platform finds users in mainland China, their money will be put into "delete only" mode, which users will only use to cancel, revoke , exchange and close the job. . . . Binance will notify the user by email 7 days before the number change.

Bitget also announced the removal process for consumers in mainland China on December 1, with the deadline set for December 31. At the same time, we are committed to 100% payment guarantee and removing users from the platform.

OKEx, another global cooperation platform, also announced the "Mainland China Privacy Policy Notice" on October 13, changing its business focus to the global market from September 2017. Mainland China market, entry of the Mainland China website is not available and the app has also been removed from all market apps in China.

OKEx also said in a statement that it would continue to maintain its policy of "liberating mainland China" and that it would not establish offices and groups in mainland China.

In addition, the exchanges that completed the completion of mainland users at the end of December of this year include the trading platform MEXC and KuCoin.

In fact, this isn't the first time that a cryptocurrency exchange has been asked to 'leave the continent'.

On September 4, 2017, the Central Bank and seven other agencies jointly issued the “Financial Token Disclosure Security Protection Notice,” calling for a virtual rewards exchange to shut down their ground services. As a result, all domestic companies have gone to sea looking for alternatives, one practice was to register with foreign organizations and then continue to do work for ground users, which is a bit of a "Golden cigar".

“In fact, OKEx is a foreign affiliate of OKCoin, and Huobi Global is a foreign affiliate of Huobi and similar names, such as ok and huobi,” a senior financial expert said in an interview with the reporter from 'Blockchain Daily'. Which is better Lenovo, and sometimes the names are completely different, for example AEx is a foreign partner of Bit Times and gate.io is a foreign partner of Biter.

"To retain users, the first platform account is accessible on the new platform upon deletion." The above-mentioned player told reporters that some exchanges will introduce a new exchange site while still making consumers love these benefits. (BHEx) provides the Singapore address on the website.

OKCoin announced on October 30, 2017 in the business suspension announcement: "Through investments, cooperation, etc., it has obtained the license to mine the digital assets in many countries around the world and access the foreign markets .OKEx.com and OKCoin.com All foreign businesses are managed by local companies and groups.

This year, the exchanges also announced their withdrawal from mainland China services, raising many questions for the outside world, especially whether this is true. Have you repeated the mistakes of the past 4 years?

Blockchain Daily has publicly reported that 15 exchanges have so far pulled out of major Chinese markets, according to public statistics. (See comments below for more details)

Domestic partners of various exchanges have been abandoned

A Blockchain Daily reporter said that of the 15 exchanges that were said to have been 'excluded' from mainland China, most of them were carried out by Chinese or Chinese, with the exception of Binance, OKEx, Huobi, Bitcoin Times and Bitcoin. '94 rule 'in 2017, and the rest are all new exchanges after '94 rule'.

In addition, when the country's three largest exchanges, Zhao Changpeng, Li Lin, and Xu Mingxing, operated in the global currency, many established exchanges were short and do not rarely reach the public. Invisible. “Of the 15 exchanges, journalists could not find information about the founder of Bione and the companies involved in the report.

For example, the founder of Gate Hanlin, born eight years ago, has rarely seen major events since an interview in 2014.

According to the research disclosure, Jinan Manway Information Technology Co., Ltd. is a major trading company of Biter (predecessor of Gate), and the 'Blockchain Daily' reporter inquired about Tianyan's business information and found the following:. The company was fired in September 2019.

In 2019, the CNNS online virtual currency crash sparked a number of incidents in which the rights and interests of investors were protected. The termination of Company Gate does not affect the protection of the rights and privileges which arose at that time.

Based on industry and industry data from Tianyan Research, Beijing Huobi Tianxia Network Technology Co., Ltd. broke with the plan and resolution of July 22 to apply for a business registration permit for delisting. The borrower should submit the application as follows: The team within 45 days of the announcement and the completion date is the team leader Li Lin.

First, on June 24, Beijing Rekuda Network Technology Co., Ltd. announced the solution, and the representative and team members completed is the organization, Xu Mingxing. However, both are now available.

Blockchain Daily plans 15 exchanges that have been pulled from mainland China and can accept a total of 8 domestic partners, of which 7 have been phased out or rescheduled.

The country will maintain the state of emergency

Korean regulators have always been very enthusiastic about cryptocurrency trading, and most importantly, this year the remedial measures for the cryptocurrency have reached a higher level.

As a result of the investigation, on May 18 this year, the China Internet Finance Association, the China Corporate Finance Corporation and the China Finance and Cooperation Association jointly received a "Transaction Security Protection Notice," repeat. -they. refers to the exchange of fiat currency and virtual currency. The exchange of virtual currency and virtual currency exchanges, providing information and fees for virtual currency transactions, violating the law, illegal use of funds, offering illegal trade, illegal sale of tokens and coupons that are considered illegal sales and other illegal activity.

On May 21, the 51st meeting of the State Council for Finance and Development was held. The meeting focused on strengthening the monitoring of the financial performance of platform companies, to facilitate bitcoin mining and trading, and the decision to prevent self-dangerous trading. industry.

At the same time, the main advantages of global “mining” areas such as Inner Mongolia, Xinjiang, Yunnan and Sichuan were used to measure the weights to be “eliminated”. On May 25 this year, the Inner Mongolia Development and Reform Commission announced the "8 Major Measures for Determining and Sanctioning Virtual Cases" investigation and sanction results. Illegal activities such as laundry and illegal financial activities. People who include “mining” companies and their blacklisted employees are untrustworthy, including employees who participate in “mining” virtual or virtual resources and protecting, referred to the Department of labor administration.

On September 24, financial institutions jointly published the "Notice on the Prevention and Exploitation of Excessive Financial Conduct" along with 10 responsibilities, including the Public Security Bureau. . It is also a financial crime.

According to media reports, after the bank's "notice" was published, the superintendent ruled that citizens, lawyers and communities were legitimate. Compliance must be presented in a timely manner.

Cai Kailong, theoretical expert on the whale platform and senior scientist at the Institute of Financial Technology at Renmin University in China, said, “There will be no chance that there will be a gray area for them. daily exchanges, "says the immigration policy for cryptocurrency. The exchange rate is now clear. Foreign company registration, external servers, domestic technology and operations, superficial and confidential procedures can not survive.

Cai Kailong pointed out that the current national attitude of the virtual market is a battle. The future of cryptocurrency trading could shift to overseas markets with historic membership.