Has Huobi paid it back?

According to official announcements on September 26, in response to local government regulatory policy requirements, Huobi Global has stopped new user registrations in mainland China on September 24, 2021 (UTC+8). For existing users whose identity authentication is in mainland China, it is planned to complete the orderly liquidation before 24:00 on December 31, 2021 (UTC+8) while ensuring the security of user assets. The specific liquidation details will be announced through the announcement. , emails, site letters and text messages to notify users.

Recently, the People's Bank of China and ten other departments issued the "Notice on Further Preventing and Dealing with the Risks of Speculation in Virtual Currency Transactions" (hereinafter referred to as the "Notice"). The "Notice" requires strengthening monitoring and early warning of the risks of speculation in virtual currency transactions. The People's Bank of China and the Central Cyberspace Administration of China have improved the functions of the virtual currency monitoring technology platform to improve the accuracy and efficiency of identifying and discovering virtual currency trading and speculation activities. Financial institutions and non-bank payment institutions have strengthened their monitoring of funds involved in virtual currency transactions. All departments and regions should strengthen the effective connection between online monitoring, offline monitoring and fund monitoring, and establish information sharing and cross-verification mechanisms.

At the same time, financial institutions and non-bank payment institutions are required not to provide services for virtual currency-related business activities. Financial institutions and non-bank payment institutions are not allowed to provide account opening, fund transfer, clearing and settlement services for virtual currency-related business activities, are not allowed to include virtual currencies in the scope of collateral, and are not allowed to carry out insurance business related to virtual currencies or use virtual currencies as collateral. Currency is included in the scope of insurance liability, and clues to violations of laws and regulations should be reported to the relevant departments in a timely manner.

On the same day, the National Development and Reform Commission and other departments also issued the "Notice on Regulating Virtual Currency "Mining" Activities", clearly strengthening the supervision of the entire upstream and downstream industry chain of virtual currency "mining" activities, and strictly prohibiting the addition of new virtual currencies. "Mining" projects will accelerate the orderly exit of existing projects, promote the optimization of industrial structure, and help achieve carbon peak and carbon neutrality goals as scheduled.

The notice requires a comprehensive review of virtual currency “mining” projects, and investment in new projects is strictly prohibited. Strengthen dual control constraints on energy consumption of new virtual currency “mining” projects. "Virtual currency 'mining' activities" will be added to the "elimination category" of the "Guidance Catalog for Industrial Structural Adjustment (2019 Edition)". Before the addition, virtual currency “mining” projects will be treated as obsolete industries, and investment will be prohibited in accordance with relevant regulations. It is strictly prohibited to carry out virtual currency “mining” activities in the name of data centers. Strengthen credit supervision of data center enterprises. Strictly restrict the use of Telegram equipment and energy by virtual currency “mining” companies. It is strictly prohibited to provide fiscal, taxation and financial support for new virtual currency “mining” projects.

The notice pointed out that the orderly exit of existing projects should be accelerated. Investigate and punish illegal power supply activities in accordance with the law. Incorporate virtual currency “mining” projects into the implementation scope of differential electricity price policies, and implement “elimination” enterprise electricity prices. Virtual currency “mining” projects are not allowed to participate in the electricity market. Stop all fiscal and tax support for virtual currency “mining” projects. Stop providing financial services for virtual currency “mining” projects. It will be phased out within a time limit in accordance with the "Guidance Catalog for Industrial Structural Adjustment".

Warm reminder: Telecom fraud gangs trying to launder money by buying and selling virtual currencies may be cut off, and the risk of individuals buying and selling virtual currencies will also increase. If the source of funds is fraudulent, they will not be protected by law. The police The agency will likely freeze it and return it to the victim, and he will have to bear the loss himself.