Huobi Global announced that it will freeze all United States customers’ accounts on Nov 13.
On Nov. 3 Huobi stated in a blog post that its users agreement expressly prohibits customers in the US from using its trading platform.
Huobi Global has gradually started disabling U.S customers’ accounts to “prevent any further trading or transferring.”
The crypto exchange is providing the US customers with a grace period until Nov. 13, till then it will go ahead and freeze accounts of all the US users. Until the time, the exchange will make refunds in Bitcoin or Tether and instruct the affected customers to return their borrowed funds in margin trading while withdrawing any remaining cryptocurrencies from their accounts.
Huobi Global Will Nudge Its US Customers to Use Local Partner
Huobi stated that the American regulatory environment for cryptocurrencies has forced its prohibition for US-based users on its platform.
Huobi Global stated that it will US market altogether but rather nudge its customers towards its exclusive strategic partner, the San Francisco-based HBUS, a platform dedicated to serving US-based customers. HBUS runs and operates independently from the larger exchanges.
Huobi recently announced that it will launch a fiat gateway for Turkish lira at the end of the year. Huobi’s fiat onramp for lira will be the first fiat gateway launched by the global exchange, Huobi Global.