CoinEx cryptocurrency exchange is reducing operations in mainland China to obey local anti-crypto regulations.
The company officially announced that it was going to completely retire user accounts verified as mainland China citizens as well as those linked to a mobile phone number from mainland China.
The exchange has asked mainland China-based users to withdraw their crypto assets from the platform. CoinEx then plans to disable accounts with zero assets. Despite CoinEx’s aggressive measures to take down users from mainland China, the exchange will still allow users to withdraw assets after Oct. 31. After the deadline, the “only service available for these accounts will be withdrawal.
CoinEx also noted it had previously blocked access and terminated the registration of new users from mainland China in March 2019, urging them to complete withdrawals as soon as possible.
CoinEx is a major global cryptocurrency exchange, founded in 2017. CoinEx’s daily trading volume amounts to around $85 million, according to data from CoinMarketCap.
