China's official app for digital yuan. The government is pushing its own digital currency and has banned all cryptocurrency transactions in the local financial system. Photo: Reuters
China's official app for digital yuan. The government is pushing its own digital currency and has banned all cryptocurrency transactions in the local financial system. Photo: Reuters

Huobi, OKG tumble in Hong Kong after China criminalises cryptocurrency trading to rein in financial risks

  • Huobi will stop signing up mainland users and begin phasing out existing Chinese customers, and will refund their assets by year-end: statement
  • Some HK$1.2 billion was erased in early stock losses in Hong Kong following the PBOC directive on Friday

China's official app for digital yuan. The government is pushing its own digital currency and has banned all cryptocurrency transactions in the local financial system. Photo: Reuters
China's official app for digital yuan. The government is pushing its own digital currency and has banned all cryptocurrency transactions in the local financial system. Photo: Reuters
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