KuCoin, a cryptocurrency exchange, announced on Sunday that all users from mainland China must withdraw funds from the platform by December 31.
According to the company, it made the decision to purge Chinese customers in order to comply with new regulatory requirements.
China recently increased its crackdown on the cryptocurrency sector, imposing the most stringent restrictions to date. In China, all financial activities involving cryptocurrencies are considered illegal.
Users who will be affected by the ban will continue to receive emails from KuCoin informing them of the deadline.
Huobi, one of the leading cryptocurrency exchanges, made a similar announcement last week, stating that it would be retiring all of its Chinese users by the end of the year.