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.

AccessTimeIconSep 15, 2017 at 1:30 p.m. UTC
Updated Dec 11, 2022 at 2:04 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Another China-based cryptocurrency exchange, Yunbi, has announced the closure of its trading operations in the midst of a wider crackdown within the country.

A notice on the firm's  website follows similar announcements made by exchanges BTCC and ViaBTC in the last two days, citing a recent regulatory statement banning initial coin offerings (ICOs) as the reason for its closure.

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


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.