Huobi closes crypto derivatives as part of wind-down for Chinese traders
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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The Seychelles-based cryptocurrency exchange originally founded in China, Huobi, has officially banned Chinese residents from swapping cryptocurrency derivatives, according to the company’s revised user agreement. China is now listed as prohibited and residents from the country are forbidden to use Huobi’s service. Chinese Citizens Are Now Banned From Huobi’s Crypto Derivatives Products The digital currency exchange Huobi has updated its terms of service (ToS) and user agreement and notes that Chinese residents are banned from using Huobi’s crypto derivatives....
China’s ongoing crackdown on cryptocurrencies has forced Huobi exchange to halt derivatives trading services to users in China. As per an updated User Agreement from the Seychelles-based exchange, China is now on the list of prohibited jurisdictions for derivatives trading. Crypto users in the country can still access the exchange for spot trading. Huobi Ban […]
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Chinese journalist Colin Wu speculated that the move from the crypto exchange would likely drive users to Binance for higher leveraged trades. Huobi, one of the largest cryptocurrency exchanges in the world, has reportedly restricted derivatives for new and existing users over concerns about China’s regulatory crackdowns.Chinese journalist Colin Wu reported on Twitter Thursday that Huobi had temporarily dropped the maximum allowable trading leverage from 125x to less than 5x for existing users. In addition, new users based in China were not allowed to engage in derivatives trading on the....
Chinese users will no longer be able to trade crypto derivatives on the Huobi exchange amid a broader cryptocurrency crackdown from the government. Crypto exchange platform Huobi has updated its user agreement document, banning crypto derivatives trading for customers in China.According to the updated user agreement section of the Huobi Global website, the ban on crypto derivatives trading covers users in jurisdictions such as China, Taiwan, Israel and Iraq. Other banned countries include the United Kingdom — restricted to retail customers — as well as Bolivia, Bangladesh and Ecuador, to....