Huobi has accelerated its retirement of Chinese mainland customers. On Sept 24th, Huobi ceased registrations for new mainland Chinese customers. On Dec 15th, Huobi ceased spot trading for Chinese citizens. Additionally, from Dec 15th to Dec 31st, Chinese mainland customers are only able to sell digital assets.
Huobi also closed its derivatives desk for China-based Huobi users in November, leading the exchange’s market share of the global open interest to plunge from 6% to 2% overnight as the October contract expired.
The Chinese ban has also been reflected on other exchanges. Both OKEx and Binance have made announcements of restrictions for Chinese mainland citizens.