The Process of Clearing and Refunding Existing Chinese Mainland Users Engaged in Spot and Futures
Bitget Global Users,
Due to local regulation policy changes in Chinese mainland, we have halted new user registration in this region since December 1, 2021(UTC+8). For existing users who have been verified as from Chinese mainland, we will close your accounts while securing your assets. Please rest assured that you will be able to withdraw or cash out all of your assets stored on Bitget.
In the future, Bitget will strictly comply to various local regulations and policies while exploring our global business. With 10 language versions available, Bitget.com will continue to offer the best service to our global users.
The process of clearing and refunding existing Chinese mainland users engaged in Spot and Futures is as follows.
I. Spot
Starting from December 7, 2021, 15:00(UTC+8), Chinese mainland users will not be able to deposit.
Starting from December 7, 2021, 15:00(UTC+8), Chinese mainland users will not be able to place new orders. But canceling of existing orders will be allowed.
Starting from December 31, 2021, 15:00(UTC+8), Chinese mainland users will be banned from spot trading. Existing orders will be canceled, and new order placement will be banned. The deposit feature will remain available so that users from other non-restricted countries and regions will not be affected.
II.Futures
Futures include Coin-margined futures/Ex. Inverse and USDT-margined Futures/Ex. USDT.
Starting from December 7, 2021, 15:00(UTC+8), Chinese mainland users will be banned from opening positions. Only closing positions will be supported. You can close your positions from now on to the deadline. During this period, you can still use the Take-Profit/Stop-Loss feature.
Starting from December 31, 2021, 15:00(UTC+8), we will conduct dynamic settlements of Chinese mainland users. Existing orders will be withdrawn, and existing positions will be closed out and settled. Delegated closing will be initiated phase by phase in an amount that will not significantly impact the market. Users from non-restricted countries and regions will not be affected.
The clo sing prices may vary subject to market conditions. We strongly recommend you close your positions in advance.
III. Copy Trade
At 15: 00 (UTC+8) on December 7, 2021, all Chinese mainland users will be removed from the Trader List or any copier list.
Chinese mainland users will be banned from trader applications. Chinese mainland users will be banned from generating new Copy Trade orders, meaning they will not be able to copy positions.
But existing positions will continue to be closed in sync with the traders who are being copied.
After the clearance, please transfer your assets in your Futures account into your Spot account and withdraw them as soon as possible. The withdrawal feature will remain available to Chinese mainland users in 1-2 years. The specific deadline will be notified in the future. If you have any questions, please feel free to contact Customer Support.
To avoid any risk brought by market volatility, we strongly recommend you close your positions in advance.
We apologize for the inconvenience caused! Thank you for your support and understanding!
Bitget team
December 1, 2021.
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Quantitative Market Maker Cooperation: [email protected]
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