On September 24, the Chinese government announced to ban crypto-related services, including digital assets trading offerings, order matching, token issuance, and derivatives. We have received some inquiries from the Chinese community. To avoid any unnecessary confusion, the following is our reply to the announcement:
- SafePal actively embraces global compliance and follows the policies and regulations of local governments. Since the beginning, except for sending and receiving crypto, SafePal has not provided any crypto-related services to China’s mainland residents. Simplified Chinese is not even supported in the SafePal product lines. In the future, SafePal will not offer any services that are banned by the local government to China’s mainland residents as well.
- SafePal is a decentralized non-custodial wallet. Users take complete control of their private keys and mnemonic phrases. SafePal does not access, store or control users’ crypto assets. Please rest assured that your funds are safe with SafePal.