Huobi Group's US-Based Exchange Shuts Down; Will Reconfigure Strategy To Make A Comeback

On Sunday, December 8, 2019, Huobi US took to its Twitter platform to inform fellow followers that they will no longer be in business.

As for their reasoning, this seems to be temporary, as they do plan to return with a bigger bang. Here’s as per their quotes:

An announcement was also made by the team in which it was expressed that their trading services will no longer be available starting Sunday, December 15, 2019, 20:30 PT/23:30 ET. Users have officially been advised that they will have access to their accounts and are suggested they withdraw any funds held by January 31, 2020 20:00 PT/23:00 ET.

As for the abrupt decision to cease operations, Huobi U.S has yet to comment on the matter. That said, one can assume that the regulatory tug-of-war present in the U.S. may have potentially affected their decision.

Huobi U.S started its journey within the crypto sphere in early 2018, as a digital asset trading platform. Operated by Huobi Group, a leading global digital asset financial service provider, the digital platform was registered as a FinCEN money service business.

Their primary emphasis was placed on legal compliance, security and privacy. An endeavor achieved by the firm earlier this year entailed a group devoted to institutional sales and customer service, reports Coindesk. This was their way of luring in big investors for their OTC Desk.

Bearing all this in mind, should any confusion need resolving, visit their FAQ detailing the steps on how to proceed from here:

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Nirmala Velupillai
Nirmala Velupillai
Nirmala is a blogger who has been fascinated by the world of technology and its contributions to societal development. While a novice, her eager to learn about the crypto world has led her to write a number of pieces on its positive and negative aspects. On her spare time, she indulges in understanding and building statistical models and enhancing her painting skills.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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