Why did the cryptocurrency exchange close? (When will the cryptocurrency exchange resume trading?)
Why did the cryptocurrency exchange close? According to Huobi\’s report, since Ma
Why did the cryptocurrency exchange close? According to Huobi’s report, since March of this year, some well-known domestic cryptocurrency exchanges, including Bithumb, Upbit, Coinone, etc., have begun to shut down their services.
Why are these mainstream cryptocurrency trading platforms not allowing users to trade encrypted assets abroad? Because most traders are foreign investors (such as Chinese residents). However, when you use fiat currency to exchange legal currency, a new “Bitcoin” and “Ethereum” will appear. These two different virtual currencies have their own prices, and their prices are tied to stable exchange rates, so it is called “decentralization”.
In fact, many countries have strict regulatory policies for blockchain technology and have issued numerous restrictive measures in this field. Therefore, we cannot ignore the reasons for the shutdown of exchanges. So, what exactly caused this situation? Why did cryptocurrency exchanges close in 2017? On December 31, 2017, the People’s Bank of China issued the “Notice on the Prevention of Risks from Coin Offering Financing,” which stated that any institution or individual shall not engage in illegal token offering financing activities. ICO and STO are prohibited, and various types of variant virus transmission must be prevented to protect consumers’ legitimate rights and interests.
When will the suspension of cryptocurrency exchange trading be resumed?
When will the suspension of cryptocurrency exchange trading be resumed?
On December 28, 2019, according to the Huobi Global website, the price of Bitcoin has been continuously falling since November 14, reaching a low of $10,300. Currently, it is hovering around $10,000, and the overall mainstream digital asset market is in a downward trend. Some mainstream currencies have experienced significant fluctuations, showing a situation of large rises and small falls. At the same time, due to the outbreak of the epidemic, domestic financial institutions and securities companies have collapsed one after another, and panic selling by investors has caused a large outflow of funds, leading to many investors escaping at high levels.
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