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Crypto Exchange Huobi Suspending Services for New Users in China

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Huobi is feeling the heat of China’s renewed cryptocurrency crackdown.

In a statement to Reuters, cryptocurrency exchange Huobi has confirmed suspending its services in Mainland China amid a crackdown.

As reported by U.Today, Huobi Pool stopped providing mining hosting services to Chinese customers on May 23.

The company has also halted the sales of its cryptocurrency mining machines.

Last week, a top Chinese regulator called for clamping down on Bitcoin mining and trading, causing a significant market correction.

The BTC.TOP pool suspended its Chinese operations last week. Founder Jiang Zhuoer claims that China will lose its Bitcoin mining crown to the U.S.:

Eventually, China will lose crypto computing power to foreign markets as well.

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