Photo of U.S.-based HBUS team in San Francisco courtesy of Huobi.
HBUS, the U.S. affiliate of the Huobi Group exchange, announced Monday it would cease operations in the coming weeks.
Customers have until Jan. 31, 2020 to withdraw all of their assets.
The news comes roughly a month after Huobi Group announced it would force its U.S.-based customers to use HBUS as part of a measure to comply with U.S. laws.
HBUS did not immediately return a request for comment.
The U.S. exchange launched in early 2018 and is registered as a money services business with the Financial Crime Enforcement Network.
The exchange also launched an institutional sales and customer service group earlier this year, targeting large players for its OTC desk.
Huobi Group, unlike its U.S. affiliate, has been growing its operations recently, announcing last week that it would join a blockchain alliance led by the Chinese government.
In September, the exchange opened up a presence in Argentina.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Huobi US Is Abruptly Halting Exchange Operations
Publicado en Dec 9, 2019
by Coindesk | Publicado en Coinage
Coinage
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.