Yunbi Bitcoin Exchange Latest to Close in China Crackdown
China-based cryptocurrency exchange Yunbi has announced the closure of its trading operations in the midst of a wider crackdown within the country.
Another China-based cryptocurrency exchange, Yunbi, has announced the closure of its trading operations in the midst of a wider crackdown within the country.
At the time of the ICO statement on September 5, Yunbi stated it would comply with the ban by delisting all ICO tokens from its platform – a response which was evidently not sufficient to protect the exchange from further restrictions that appear to be coming into force.
Reportedly, all China's bitcoin and cryptocurrency exchanges have received orders that they will need to voluntarily shut down by the end of today, September 15.
The Huobi and OKCoin exchanges are expected to announce plans to shut down within hours.
Closed sign image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.