Huobi Halts Futures Trading Services, Mining Pool in China as Regulatory Pres...
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 […]
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Non-futures crypto products like Grayscale Bitcoin Trust are reportedly still available on Futu Securities. A major Hong Kong-based online brokerage firm has reportedly suspended cryptocurrency futures trading due to regulatory concerns.Futu Securities, one of the biggest trading brokerages in Asia, has halted support of crypto futures contracts and trading services in response to regulatory requirements, Chinese financial publication Sina Finance reports Thursday.The platform’s customer service reportedly stated that the suspension will affect major contracts including CME Bitcoin....
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....
BTC China has announced it is expanding its range of digital currency services with the addition of a new mining pool and merchant payments processing. It marks another step on the company's transition from simple exchange to an integrated services platform, and reflects a recent diversification trend among Chinese digital currency businesses. The company said in a statement: "BTC China's expanded portfolio covers all aspects of the digital economy, allowing a user to mine bitcoin and litecoin in its mining pool, store it in BTC China's wallet, pay for goods through its payment gateway,....
Huobi Gibraltar has already secured the necessary licenses from local authorities. Huobi Group, a Bitcoin (BTC) technology firm established in 2013, is relocating its spot-trading business to Gibraltar as a precautionary measure following China’s cryptocurrency clampdown.According to a report by Bloomberg, the Gibraltar Financial Services Commission has authorized Huobi to begin moving its spot-trading operations to affiliate Huobi Technology (Gibraltar) Co. As a result, Huobi Group may provide spot trading services through Huobi Gibraltar, a centralized digital asset exchange that has....
In a growing trend, Bitcoin exchanges have recently begun expanding their business into mining. An example of this is the BTC mining pool recently launched by BTC China, which now accounts for 7% of all hashing power. Another China-based newcomer is Digcoin — a Bitcoin mining company owned by the Beijing based Huobi exchange. Formally launched in September 2014, the mining company has been rising in the hashing power ranks as well. According to Huobi, the hashing power of the Bitcoin network is essential for the security of the blockchain, but mining must be profitable to be sustainable,....