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.
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.