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Seeking Alpha 2021-09-27 09:10:21

Bitcoin, other cryptos gain, even as exchanges restrict China accounts

Cryptocurrencies are higher this morning, even as the fallout from China's latest crackdown continues. Bitcoin (BTC-USD) is up 5% nearing $44K, Ethereum (ETC-USD) is gaining 12%, Litecoin (LTC-USD) up 6%, Binance Coin (BNB-USD) up 8% and Dogecoin (DOGE-USD) up 5%. Cryptocurrency exchange Huobi Global told its customers that it ceased new account registrations from mainland China on Friday. "Huobi Global will gradually retire existing Mainland China user accounts by 24:00 (UTC+8) on Dec 31, 2021, and ensure the safety of users' assets," it says. "We will inform users of the specific arrangements and details through official announcements, e-mails, text messages, etc." Binance says its app is no longer available in mainland China and it no longer accepts account registrations with Chinese mobile phone numbers, CNBC reports. "Binance takes its compliance obligations very seriously and is committed to following local regulator requirements wherever we operate," a spokesperson said. On Friday, the People's Bank of China declared crypto transactions

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