China ethereum huobi

About Capital is a Hong Kong-based asset management company. Huobi founder Leon Li was the controlling stakeholder in Huobi. At the beginning of H2 of , the founder of Huobi was looking for a majority buyer of Huobi Global stocks. Later, Sam-Bankman expressed his interest in purchasing Stocks of Huobi, but later the deal was not confirmed.

It does not matter who owns Huobi; Chinese officials can ban the use of crypto in the country at any time. Like earlier in September government banned the use of cryptocurrencies in the country, including the Huobi exchange. It is not the first time something like this has happened in the country. Ten agencies, including the central bank, financial, securities and foreign exchange regulators, vowed to work together to root out "illegal" cryptocurrency activity, the first time the Beijing-based regulators have joined forces to explicitly ban all cryptocurrency-related activity.

The repeated prohibitions highlight the challenge of closing loopholes and identifying bitcoin-related transactions, though banks and payment firms say they support the effort. Friday's statement is the most detailed and expansive yet from the country's main regulators, underscoring Beijing's commitment to suffocating the Chinese crypto market. The move comes amid a global cryptocurrency crackdown as governments from Asia to the United States fret that privately operated highly volatile digital currencies could undermine their control of the financial and monetary systems, increase systemic risk, promote financial crime and hurt investors.

They also worry that "mining," the energy-intensive computing process through which bitcoin and other tokens are created, is hurting global environmental goals. Chinese government agencies have repeatedly raised concerns that cryptocurrency speculation could disrupt the country's economic and financial order, one of Beijing's top priorities.

Analysts say China also sees cryptocurrencies as a threat to its sovereign digital-yuan, which is at an advanced pilot stage. Republican Senator Pat Toomey tweeted. While U. It also barred financial institutions, payment companies and internet firms from facilitating cryptocurrency trading nationally. A small toy figure and representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, China's National Development and Reform Commission said it will work to cut off financial support and electricity supply for mining, which it said spawns risks and hampers carbon neutrality goals.

It was down 6.

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In China, as elsewhere, government connections matter. But can Huobi really take business away from these also-connected tech giants? If you build it, will they come? That will depend on real people using the blockchain for real use cases. Adoption is key. We also need to re-examine the potential of blockchain adoption in China.

But being an IT service provider in China means that one has to bend whenever the state imposes new rules. Top 3 other things that happened this week 1. Blockchain Major: will you graduate to be a believer? The major is cross disciplinary but will fall under the computer science department. The university said that the school will focus not only on teaching theoretical knowledge, but also on the practical implementation of blockchain technology in the area of smart city, cybersecurity and supply chain.

China likes to be first for many endeavors, but education reform is not its expertise. Either the government will exercise more control on the narrative, or block students from accessing the open Internet. Weibo admitted that its data has been breached after a recent upgrade. The news could have been educational to the public. Instead, it was whitewashed. This year, crypto exchanges were expected to make their first debut—but the show was canceled due to COVID Fake transaction volume, exit scams and of course money laundering were featured.

Perhaps due to the distraction of Covid, it was met with a yawn. Do you know? They demanded compensation in exchange for restoring peace and quiet. Disclaimer The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. Stay on top of crypto news, get daily updates in your inbox. Your Email. Resultantly, the firm had announced that it had suspended all crypto-related services to people in China.

It has now once more been confirmed by Binance that it is not serving any customers from China. The firm told in the announcement that it is unfortunate that the firm had to close its business operations in China. However, the situation is not such which can be settled amicably, and indeed it will become far worse than now. The firm then addressed its Chinese customers and said that it will be exiting from mainland China. The announcement was made on 7th December and was made public on social media networks as well.

The suspension of services will come into effect on 14th December for the people accessing Huobi from China, clarified Huobi. Huobi further told that on 15th December , it will end operations in China completely as if it never existed in China. However, the users will have the option to visit and revisit their Huobi accounts until 31st December Till 31st December, they can access their accounts and transfer funds or even withdraw them.

There is no bar if the Chinese people would ever try to log into their Huobi account even after