Tanya Abrosimova
Independent Analyst
- The cryptocurrency exchange decides to stop servicing US citizens.
- The deposits should be withdrawn until November 13.
The cryptocurrency exchange Huobi Global announced it would stop working with the citizens of the United States. The company asked the customers from the USA to stop margin trading and withdraw money before November 13.
"Huobi Global is serving millions of users in more than 130 countries around the world and strictly complying with laws and regulations in various countries and regions. In line with the laws and regulations of the United States with respect to crypto assets, our User Agreement expressly prohibits users in the United States from using our platform," the company wrote in the official statement.
If the customers have some residual assets on their balances that are lower than below the minimum withdrawal amount, they can contact the customer support service for assistance.
Notably, the same decision was made earlier by Malta-based Binanace. The exchange opted for a local subsidiary and opened Binanse.US.
Meanwhile, Huobi recently opened a subsidiary in Argentina to capitalize on strong demand for cryptocurrencies in the country. It is worth noting, that the government lowered the limits for foreign currency purchases both for individuals and corporates. This move caused a spike in biotin prices. The digital asset is trading with 30% premium in Argentina.
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