KuCoin Latest Crypto Exchange to Boot Chinese Mainlanders

KuCoin is the latest cryptocurrency exchange to shut down accounts of mainland Chinese residents after the People’s Bank of China issued another blanket ban on crypto trading last Friday.
According to an announcement today, the Seychelles-based exchange first “cleared and refunded users in mainland China” in September 2017 following China’s first ban on crypto exchanges. KuCoin said it had finished removing Chinese users by early October 2017.
Last Friday, just after the People’s Bank of China said that cryptocurrency speculation breeds illegal activities that “seriously endanger the safety of people’s property,” and banned all crypto trading, KuCoin “immediately conducted a technical self-inspection to ensure that the company's business process comply with the regulatory requirements of mainland China.”

KuCoin is the latest cryptocurrency exchange to shut down accounts of mainland Chinese residents after the People’s Bank of China issued another blanket ban on crypto trading last Friday.
According to an announcement today, the Seychelles-based exchange first “cleared and refunded users in mainland China” in September 2017 following China’s first ban on crypto exchanges. KuCoin said it had finished removing Chinese users by early October 2017.
Last Friday, just after the People’s Bank of China said that cryptocurrency speculation breeds illegal activities that “seriously endanger the safety of people’s property,” and banned all crypto trading, KuCoin “immediately conducted a technical self-inspection to ensure that the company's business process comply with the regulatory requirements of mainland China.”

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