Crypto-linked stocks plunge in Hong Kong, bitcoin steadies

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HONG KONG/SINGAPORE (Reuters) -Cryptocurrency-linked stocks dropped in Hong Kong on Monday morning, after Chinese authorities intensified their crackdown on the industry, while major cryptocurrencies steadied.
Shares of crypto asset manager and trading firm Huobi Tech, an affiliate of Huobi Global, one of the world's largest exchanges, fell more than 30% after the opening bell.
Huobi Global said on Sunday it had stopped taking new mainland customers https://ift.tt/3m0UBsx from Friday and would close accounts belonging to mainland-China based clients by the end of the year to comply with local regulations.
China's regulators intensified a crackdown https://ift.tt/3m0UBsx on Friday, banning cryptocurrency transactions and mining, and saying that overseas exchanges are barred from providing services to mainland investors via the internet and that mainland-China based employees of overseas crypto exchanges would be investigated.
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