<p>China-based Ethereum mining pool BeePool, currently the <a href="https://etherscan.io/stat/miner?range=7&amp;blocktype=blocks">fourth-largest</a> in terms of hashrate, <a href="https://support.beepool.org/hc/zh-cn/articles/4407131055513-%E5%85%B3%E4%BA%8E%E8%BF%91%E6%9C%9F%E5%81%9C%E6%AD%A2%E7%9F%BF%E6%B1%A0%E6%9C%8D%E5%8A%A1%E7%9A%84%E9%80%9A%E7%9F%A5">announced</a> Tuesday that it is shutting down on October 15.</p> <p>The move is in "response to the latest regulatory policies," said BeePool.</p> <p>Last week, China's central bank <a href="https://www.theblockcrypto.com/linked/118581/china-issues-tougher-measures-to-keep-cracking-down-on-crypto-trading">tightened</a> its policy on crypto, declaring all crypto-related activities illegal. BeePool was founded four years ago and is based in China's Hubei province.</p> <p>Its announcement comes a day after Hangzhou-based <a href="https://www.theblockcrypto.com/linked/118724/china-ethereum-mining-pool-sparkpool-suspend-all-services">Sparkpool</a>, the second-largest Ethereum mining pool, said it is shutting down entirely by the end of this month.</p> <p>China's latest crackdown has not only affected mining pools, but also crypto exchanges. Binance and Huobi recently <a href="https://www.theblockcrypto.com/post/118711/crypto-exchange-huobi-cease-all-mainland-china-user-accounts">announced</a> that they will no longer provide services to China-based users. </p>