Huobi’s HBUS ceases operations in the US! Huobi’s HBUS ceases operations in the United States according to a tweet posted yesterday.
The San Francisco-based cryptocurrency trading platform said in the announcement:
“We regret to inform you that HBUS will need to cease operations so that it can return in a more integrated and impactful fashion as part of its ongoing strategic layout.”
The move comes right after Huobi Global announced that it would freeze all US customers’ accounts by mid-November. Explaining the decision, Huobi stated that the American regulatory environment had made it prohibitive for US based users to use the platform. At the time, however, Huobi Global said that it would not exit the US market altogether, but rather nudge them towards its “exclusive US strategic partner”. Similar to Binance.US, HBUS ran and operated independently from the larger exchange.
In September, Huobi Group rolled out an exchange in Argentina. They launched Huobi Argentina using Huobi Cloud, a service that allows users to build over-the-counter (OTC) and digital asset exchanges on top of Huobi’s existing platform.
Huobi Thailand secured the country’s fifth official license to operate a digital exchange back in late July, and Huobi announced that it would launch a fiat gateway for the Turkish Lira in late 2019.
For all intents and purposes, Huobi has had a wonderful year. It is a shame that they had to withdraw from the US due to regulatory concerns. What do you think? Let us know on our Facebook page!
