China’s pitched battle against cryptocurrencies continues. The Asian country has just included the cryptocurrency miner in the blacklist of industries in which investment is restricted or prohibited by Chinese and foreign users.
After expelling mining companies in May, China recently banned all transactions related to these digital assets, creating a hostile environment. Such is so, that More than 20 companies, including cryptocurrency exchanges and developers, have abandoned all activity in the Asian country, according to data cited by the China Securities Journal.
Little by little, the most important cryptocurrency exchanges in the country have been communicating to their users closing your accounts. After a decade operating in China, the oldest Chinese cryptocurrency exchange, BTCC, has confirmed the cessation of operations in the country, as has China’s largest digital asset exchange, Huobi, and also BitZ, BiKi, BHEX, CoinEx and Renrenbit, among others.
Given this situation and in anticipation of that the Government of China imposes new measures against these digital assets, companies are mobilizing to be prepared. According to Business Insider, TokenPocket and OneKey, two providers of cryptocurrency wallets, have already made public that they will not continue to provide services to users residing in the Asian country.
Some companies that are not directly involved in the cryptocurrency market have also felt challenged to take sides in the battle against digital assets in China. This is the case of Alibaba, which has stopped selling cryptocurrency mining equipment on its website.