Huobi Global stops servicing US citizens

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The deposits should be withdrawn until November 13.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.

Read more about this here.

Share: Cryptos feed

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.