(Yicai Global) May 24 -- Shares of Huobi Technology Holdings slumped in Hong Kong after the cryptocurrency exchange stopped offering mining services for users in China's mainland amid tightening regulation.

Huobi Technology Holdings [HKG: 1611] dropped as much as 22.5 percent to HKD14.58 (USD1.90) intraday, the lowest since February.

The bourse will stop selling Bitcoin mining machines and mining hosting services in the mainland, the Paper reported yesterday, citing the exchange registered in Seychelles.

Moreover, Huobi, which has an office in Hong Kong, will suspend offering futures contracts and leveraged products in some regions, it added, without specifying the names of these regions.

As digital currencies become increasingly mainstream, regulators in China have recently sought to curb cryptocurrency mining and trading via exchanges registered overseas after banning such bourses in China's mainland in 2017.

On May 21, the Financial Stability and Development Committee of the State Council called for a crackdown on Bitcoin mining and trading to control financial risks.

Huobi will focus on overseas expansion amid its rapidly increasing international business this year, the report added. The exchange offers Bitcoin, Litecoin, and Ethereum trading for tens of millions of users around the world, according to its website.

Editor: Emmi Laine, Xiao Yi