3 More Cryptocurrency Companies Have Left China

3 more cryptocurrency companies have left China. The effects of the Chinese government's cryptocurrency bans continue to increase.

With the full spread of government-imposed bans in China and the state taking control, 3 more companies that offer crypto-related services have decided to leave the country. Cryptocurrency exchange BitMart announced that users who have registered with them from the mainland of China will remove their accounts as of November 30, and announced that it will terminate all its services in the region after this date. Founded in 2017, BitMart was a company that Shanghai-based Fenbushi Capital also invested in. According to the information on the stock market's website, the company has close to 5 million investors. Feixiaohao, a transaction information platform, also announced that it will remove services to its users in China as of today. Another company that announced that it will end its operations today was the cryptocurrency exchange Biki. The exchange stated that it will close all fund deposits today, but will allow its customers to withdraw their funds until November 30. The platform will also get back the funds in the hands of customers who bought their own tokens until October 31st. To recall, last week, the People's Bank of China (PBOC) made a harsh statement that cryptocurrency transactions are illegal. After the announcement, there was a serious decline in the cryptocurrency markets, especially Bitcoin. Huobi, which is considered one of the largest exchanges, also announced that it would suspend the accounts of users in mainland China.