Cryptocurrency exchanges have begun cutting links with customers in China after Beijing declared more activities related to digital coins “illegal” last week, in its latest broadside against the virtual currency industry.
Huobi, one of the world’s biggest crypto exchanges, announced it would remove Chinese users by the end of the year, while Binance, another large platform, was no longer accepting user sign-ups with Chinese phone numbers.
China has historically been a significant market for crypto investment and development as well as a global hotspot for bitcoin mining, a computational process that creates new units of the digital currency.
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