Rajarshi Mitra
Independent Analyst
- The exchange will facilitate refunds in Bitcoin (BTC) or Tether (USDT) before Nov. 13.
- Houbi took the step because of the harsh American regulatory rules.
Huobi exchange, a major cryptocurrency exchange, has recently announced that it will freeze all customers’ accounts in the US on Nov. 13. Huobi stated in a blog post that its user agreement does not allow US customers to use its trading platform. Due to this, the exchange will be deliberately closing their accounts to “prevent any further trading or transferring.”
The US customers will be granted a grace period until Nov. 13. Before this date, the exchange will facilitate refunds in Bitcoin (BTC) or Tether (USDT). It will also direct the customers to return their borrowed funds in margin trading and withdraw any remaining cryptocurrencies from their accounts. The exchange will freeze all the US accounts after this date. In the announcement, Houbi said that it had to forbid the US customers from using the platform because of the harsh American regulatory environment for cryptocurrencies.
However, this is not the complete withdrawal of Houbi Global from the US market. Huobi will push the users towards its “exclusive US strategic partner,” HBUS. Based in San Francisco, HBUS will serve customers in the US Similar to Binance.US, HBUS runs and operates independently from the larger exchange.
Huobi Global will also attend the blockchain festival BlockShow Asia 2019 in Singapore, which is scheduled for Nov. 16. Josh Goodbody, head of Europe and the Americas for Huobi Global, will also give his views at the Crypto DeFiance event at the festival. Goodbody will speak on matters like the fate of traditional finance and the advantages of decentralized exchanges to blockchain security.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple wipes out weekly gains, experts comment on role of Ripple stablecoin
Ripple declined to $0.52 on Thursday, erasing all gains registered earlier this week. Ripple SVP Eric van Miltenburg’s comments on the firm’s stablecoin, and how it is expected to benefit the XRP Ledger and native token XRP have raised concerns among crypto experts.
Hedera HBAR slips nearly 10% after air is cleared on mistaken link with giant BlackRock
HBAR price is down nearly 10% on Thursday, partly erasing gains inspired by the misinterpreted link with BlackRock. Despite the recent correction, Hedera’s price is up 44% in the past seven days.
The reason behind Bonk’s 105% rise and if you should buy now Premium
Bonk price has shot up 105% in the past five weeks. A retracement into $0.0000216 or the $0.0000152 to $0.0000186 imbalance would be a good buying opportunity. Patient investors can expect double-digit gains from BONK that could extend up to 70%.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?