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

Topic |   China digital currency
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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