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KuCoin Advises Chinese Customers to Move Assets Amid Crackdown

BeInCrypto –

The latest in a recent spate of exchange activity involving Chinese mainland users sees KuCoin removing Chinese users from its database. KuCoin advises them to move their assets elsewhere by 31 December 2021.

KuCoin, one of the world’s largest centralized exchanges is offloading Chinese users from its platform to comply with the Chinese central bank’s new policies, after an examination of its business processes in the light of the new policies. To preserve the safety of customer assets, KuCoin urges customers to withdraw their assets before midnight on December 31, 2021. It is up to the customers to initiate the withdrawal process. They have announced that they will continue to remind people about this via their email system and insider letters. They have offered online and telephonic assistance to affected customers.

KuCoin follows other centralized exchanges popular amongst Chinese mainland users, like Huobi and Binance, who, since the announcement by China, have blocked new users from mainland China from registering on their platform. Huobi exchange is set to clean up existing users by the end of the year.

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