BTC.com to leave mainland China
BIT Mining (NYSE: BTCM) has announced that its subsidiary, BTC.com, will exit mainland China. This latest development is in response to the ongoing crackdown on the crypto industry in the country.According to BIT Mining, BTC.com will stop registering new users. The platform will also start closing the accounts of existing users in mainland China in an orderly manner starting on October 15, 2021.
BIT Mining said,
BTC.com’s discontinuation of service to users in mainland China may adversely impact the consolidated financial statements of the company. However, the company believes that its growth in global markets will help offset the loss of business in mainland China. Going forward, the company plans to intensify its business expansion efforts and accelerate its global development.
Antpool blocks internet access from mainland China
Cryptocurrency companies continue to take action that would see Chinese citizens no longer gain access to their services. Antpool, the largest bitcoin mining pool by hashrate, also announced that it would block internet access from mainland China to comply with Chinese government regulations on crypto mining activities.The ban will not affect those in Taiwan and Hong Kong. According to the company, it has no plans to establish an operating entity in mainland China. Antpool said it is in the process of building a new business and management team with Singapore as its headquarters.
Several cryptocurrency companies, including Huobi, Bitmain, BitMart, Binance and more, have stopped providing services to Chinese users following the government’s latest crypto crackdown.
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