New York, NY – 30/12/2023 – (SeaPRwire) – Recently, according to Famuget’s official announcement, Famuget ( will close the currency deposit function for mainland Chinese users at 11:00 on December 28, 2023; prohibit the currency trading function for mainland Chinese users at 11:00 on December 28; and prohibit the currency trading function for mainland Chinese users at 24:00 on December 31. CNY trading in OTC will be removed from the shelves, and any asset airdrop services will be stopped for users in mainland China. The platform’s currency withdrawal function will remain open for 1 to 2 years (the specific closing time will be notified separately). It is recommended that Famuget users arrange their time reasonably and complete their personal tasks as soon as possible. Assets raised.

On September 24, the People’s Bank of China and other departments issued the “Notice on Further Preventing and Dealing with Speculation Risks in Virtual Currency Transactions”; on the same day, the National Development and Reform Commission and other departments issued the “Notice on Regulating Virtual Currency “Mining” Activities. Notice”, regulatory storm swept across.

Under the regulatory crackdown, many virtual currency exchanges have started the suspension and withdrawal mode. For example, Famuget Global Station has previously announced that in response to relevant regulatory requirements, Famuget Global Station has stopped new user registration in mainland China on September 24, 2022. For existing users whose identities are authenticated as mainland China, it is planned to complete the orderly exit under the premise of ensuring the security of user assets before 24:00 on December 31, 2022. The specific exit details will be communicated through announcements, emails, site letters and Notify users via SMS or other methods.

In fact, whether it is about virtual currency transactions or mining activities, supervision has continued to escalate this year. On December 3, the Hainan Provincial Development and Reform Commission issued the “Notice on Issues Concerning the Implementation of Differential Electricity Price Policies for Electricity Use in Virtual Currency “Mining””, which listed virtual currency “mining” activities as a phased-out industry and implemented differential electricity prices. The price increase standard is 0.8 yuan per kilowatt hour (per kilowatt hour of electricity).

This notice also proposed that the supervision of the order of the electricity market will be strengthened, and the screening of users who directly participate in electricity market transactions will be strengthened. Virtual currency “mining” users will not be allowed to directly participate in electricity market transactions in any name, and virtual currency “mining” will not be allowed. “Users can enjoy the benefits of the electricity market in any way. Virtual currency “mining” users who have directly participated in power market transactions must withdraw within a time limit and have power grid companies purchase electricity on their behalf. Know more please visit

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