By Tayler - Cryptocurrency Retailer - 28-09-2021
The crypto market and community witnessed one of its worst drops due to China's crypto crackdown in May. Now again, everyone in the community who is investing in cryptocurrency has been waiting on the backlash from the second Chinese crypto ban this year. Since China had further expanded upon its crypto ban law into illegalising all cryptocurrency and transactions, many crypto exchange platforms have been quickly withdrawing all operations from the country. No stone has been left unturned as even the world's largest exchanges, including those with previous run-ins from illegally trading in countries, have packed up their bags to move to more promising nations.
Three platforms to mention have already ceased operations within the country, BitMart, Biki, and Feixiaohao. It's reported that Alibaba International has had to announce restrictions on the use of crypto mining machines. According to BitMart, a popular platform for buying and selling Bitcoin (BTC) and altcoins, the exchange is in the works for completely deleting and removing all registered accounts with a Chinese IP address. BitMart will also halt all online services to users within Mainland China.
Unlike BitMart, Feixiaohao has stated that they have already wholly terminated all services to customers from China. Whereas Biki has announced that they have stopped all new registrations for customers with a Chinese IP address. However, Biki's platform will remain up and running for China until November 30.