Digital currency platform BitMart will suspend contract trading services for all mainland Chinese users « Naijatechnews

Digital currency platform BitMart will suspend contract trading services for all mainland Chinese users


The digital cryptocurrency platform BitMart issued an announcement on its official website today, stating that due to the adjustment of mainland China’s policy, mainland China is now a BitMart service restricted area, and BitMart will suspend contract trading services for all Chinese users .

Digital currency platform BitMart will suspend contract trading services for all mainland Chinese users
Digital cryptocurrencies

From 15:00 on June 3, 2021 , any associated Chinese mobile phone number, or related account registration information shows that the user in China, the contract transactions in BitMart will be restricted, including but not limited to:

1. The transaction can only be closed but not opened.

2. The transfer of assets to the contract wallet shows failure.

It is officially recommended that users perform operations such as canceling orders and transferring assets to BitMart wallets before the restrictions take effect to minimize risks.

Naijatechnews is informed that BitMart’s investor is Fenbushi Capital, the first Chinese venture capital company that specializes in investing in blockchain companies. BitMart was founded in 2017, has more than 5 million users, and currently supports more than 300 types of digital currencies.

The Inner Mongolia Autonomous Region is one of the most stringent administrative regions for cryptocurrency control in my country. Recently, a number of policies have been continuously issued to further clean up the “mining” behavior of virtual currency. It is strictly for Internet cafes, big data centers, cloud data companies, operators and other companies. “Mining” of virtual currency is prohibited.

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