Cryptocurrency exchange Huobi has made major changes to its operations
Reportedly, the third largest crypto exchange in the world Huobi (average daily turnover – $ 7.3 billion) has reduced the line of its financial products for a number of countries. These include futures trading options, as well as leveraged trading. Although Huobi does not say which countries it is referring to, it is known that this was done for “customers in certain markets” with the stated “purpose of protecting the interests of investors,” with reference to “recent dynamic changes in the market.
Recall that the current correction in the cryptocurrency market, when a total of about one trillion dollars of investor funds left the sphere in the last three days, occurred amid a statement by a high-ranking official on the fate of bitcoin mining companies in China, as well as on the regulatory practices in relation to digital assets.
According to a journalist in China, the Huobi mining pool has begun restricting some of its operations in the Middle Kingdom. At the same time, the same journalist reports, Huobi continues to provide cryptocurrency and fiat transaction services as usual.
It is known that Huobi is now actively looking at expanding its activities in Hong Kong, given that in July 2020, the local Securities and Futures Commission granted the crypto-exchange two key licenses to conduct financial activities.