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Huobi Pro Suspends Serving Japanese Traders

2018-06-27 12:54:44

#Authorities #Exchanges #Investment
Huobi Pro Suspends Serving Japanese Traders

Huobi Pro crypto exchange sent a notification to all Japanese users about suspending the service from July 2. The representatives of the exchange confirmed the message, but did not provide any explanation, including fund withdrawal for Japanese investors.

The most possible reason of such decision is absence of the license issued by Japanese authorities. Let us mention that starting from April, the Japanese FSA revises the rules and procedures for registering crypto exchanges. In the beginning of this year Huobi together with SBI planned to open a regulated crypto exchange in Japan, but in May SBI refused from the deal and launched VCTRADE in June.

According to Alexa, Huobi Pro holds 13% of traffic from Japanese customers. For the moment it is unclear whether the exchange conducts negotiations with Japanese authorities. In March, Binance received and official warning from FSA in connection with providing services to Japanese customers without an official licence.

Source

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