AEX announced that it has completed the clearing out of mainland China users in early November. Currently, the AEX China domain name has been closed and only the AEX global domain name www.aex.com is retained. AEX is firmly marching towards the international market through compliance licenses, product innovation, fiat currency access, strategic presence and other initiatives.
After the People’s Bank of China issued the “Notice on Further Preventing and Disposing of the Risk of Speculation in Virtual Currency Trading” on September 24, AEX made a quick announcement and adjusted its business to cope with mainland China regulation. AEX is the 1nd trading platform to aggressively clear out its Chinese inventory of users.
At that time, exchanges all announced that they would clear out their Chinese users by December 31. In other words, AEX completed the regulatory requirements of the Chinese authorities over 50 days earlier than most exchanges.
On October 31, AEX stopped the corresponding services for users in mainland China, including: prohibiting IP access and login to AEX in mainland China; prohibiting cell phone number (+86) and email registration in mainland China; stopping KYC certification for users in mainland China, etc. On November 3, it issued an announcement on the cryptocurrency community rewards cessation, suspending the cryptocurrency community activities such as “Community Ambassador” and “Review Board”.
AEX moves quickly, becoming the first head trading platform to complete the retirement of its Chinese stock of users, even faster than Binance who has been claiming to focus on overseas markets. At present, in the AEX global station mobile registration method can no longer find +86 (China area code) registration channel, the default is +1 for the United States area code.
“The fact that AEX is no longer promoting and serving the mainland China market is a reflection of AEX’s belief in professionalism, compliance and security.
“We do not drag things out and. Like Binance in late 2017, AEX is determined to go global in order to be able to quickly open up new markets and move to new heights. We hope that AEX’s trading depth and user breadth will quickly reach the same level as Binance and become a global super tier one digital asset exchange.” Frank Sun, Head of Global Strategy and Marketing at AEX, said.
On the road to compliance, AEX has successively obtained MSB licenses in the United States and Canada, and has applied for licenses from financial regulators in many countries. On the product level, AEX has quickly launched BitTalk and fiat channels to build a space where global users can participate in sharing and exchange, which could realize the top-up and withdrawal of USD, EUR, AUD, GBP, AUD and about 30 kinds of fiat currencies. On the business level, AEX introduced NFT, meta-universe, Web3, DAO and other popular concept sector potential assets, and made innovations in the field of DeFi mining, staking and other financial derivatives such as perpetual mechanisms.
Moving forward without turning back, the AEX strategic presence program is also accelerating, with a determined effort to reach out to multi-level markets. The establishment of multiple market sites with high-active users and large asset storage scale is in order, and more regional users can enjoy localized AEX signature services in the future.