Huobi outlines plan for Chinese investors after halting crypto trading
Huobi Group co-founder Du Jun intends to safeguard all crypto assets for Chinese accounts before permanently closing them down by Dec. 31, 2021. The uncertainties sparked by China’s blanket ban on crypto trading have taken a downturn as homegrown crypto exchanges such as Huobi take proactive measures to protect and return existing investments residing on the mainland. Speaking to Cointelegraph in this regard, Du Jun, co-founder of Huobi Group, said that the crypto exchange wants to ensure the safety of the users’ assets as part of its social responsibility:“Customers will be able to....
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Digital asset exchange Huobi Global has revealed its intention to exit the Chinese Market. The crypto trading platform with Chinese roots said it will stop processing transactions for existing users on the mainland by the end of the year. Huobi Global Halts Services in the People’s Republic Crypto exchange Huobi Global is going to discontinue services for users based in mainland China this month. In a statement quoted by the English-language Chinese TV channel CGTN, the company announced on Sunday that starting from 11:00 a.m. Beijing time on Dec. 14, users in the People’s....
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Per Bloomberg, cryptocurrency exchange Huobi began blocking its Chinese customers from being able to access some of their services. When China banned crypto exchanges back in 2017, Huobi moved its operations overseas to Hong Kong, Singapore, and South Korea, among others. Despite the ban, however, the trading platform was able to maintain its large Chinese […]
By shutting down derivatives trading on Huobi, the company takes one more step toward closing its operations in China. Major cryptocurrency exchange Huobi has ended futures and other derivatives trading in mainland China today, as planned.Earlier this month, cryptocurrency exchange announced on its website that it will settle all futures, contracts, and other derivatives activities for all Chinese consumers today, as part of the larger plan to cease operations in the country.According to previous announcements, Huobi, China's largest exchange, will today completely shut down futures,....
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