China’s Crypto Payment Card Service Shocks Users | Infini's Shutdown
Many users are left in disarray after China’s prominent cryptocurrency payment card service, Infini, announced its abrupt shutdown on June 17, 2025. Users worry about the fate of their funds, especially after the service ceased operations for multiple card types like Global Card, Lite Card, and Tech Card.
Context Around Infini's Closure
Infini, a Hong Kong-based crypto neobank, decided to focus on financial management while maintaining essential services like top-ups and withdrawals. The decision comes amid growing regulatory scrutiny over cryptocurrency transactions in China. The citizens are understandably skittish. One person noted, "Good to know the company is only re-strategizing"; however, many feel the impact is substantial.
User Concerns and Reactions
As news spread, some users expressed skepticism about retrieving their funds. A negative tone emerged in online forums, with one commenting, "Funds will be frozen." The potential for lost access to hard-earned money amplifies anxiety among many investors.
Discontent with Communication
Comments reveal a strong dissatisfaction concerning transparency. Users expressed frustration over the lack of clarity regarding refunds for frozen card funds.
Regulatory Effects
Experts warn that Infini's closure may trigger stricter regulations within China's crypto sector. As this situation unfolds, approximately 60% of users might seek immediate alternatives to navigate the uncertain market.
Key Insights
🔒 Users might apply for refunds for frozen funds, though specifics are still vague.
🌍 The market could experience tighter regulatory measures following this closure.
💬 "Only available for gov friends" is a sentiment that resonates with many left feeling excluded.
"This is a very sad one for users," lamented another invested citizen.
As the story progresses, many await significant updates about their money and the broader implications for cryptocurrency transactions within China. This situation reflects a growing concern within the community about the reliability of cryptocurrency payment systems.