Chinese cryptocurrency exchange Huobi, one of the world’s biggest crypto bourses, has stopped providing crypto derivative trading services to users in China and Taiwan, according to an updated user agreement

Fast facts:

  • The updated agreement, sent to investors in 10 jurisdictions, prohibits customers from using derivative trading services on Huobi’s platform. Huobi is already off limits to users in 11 jurisdictions, including Hong Kong.
  • The update comes following a reiteration by China of its crackdown on cryptocurrency trading. Huobi and other crypto exchanges, such as Binance and OKex, are blocked by mainland Chinese search engines and social media platforms. Some of the keywords that might help locate them have become searchable again after initially being disabled, but produce few results. For example, searching “Huobi” on Baidu, China’s most popular search engine, brings up only four related links. 
  • The keyword “Huobi” and the names of other crypto exchanges remain blocked by Chinese Twitter-like microblogging platform Weibo, and their accounts remain suspended.