Huobi US Exchange Says It Will Cease Operations by January 31, 2020 – Coinfomania

Huobi US (HBUS), the United States affiliate of popular crypto exchange operator, Huobi Group, disclosed in a Monday notice that it cease operations in the coming weeks.

Per the announcement, HBUS will shut down trading services as soon as Dec. 15, although customers will have until January 31, 2020, to withdraw their funds from the platform.

Additionally, an FAQ page dedicated to the closure reckons that for users to be on the safer side, users will no longer be able to deposit funds on their HBUS wallets starting Dec. 16. The best way for customers to secure their transaction data for other purposes would be to export them before the exchange going out of operation.

Notably, though, HBUS did not provide sufficient information regarding the reasons for the shutdown, which comes a month barely after its parent company said it would force its U.S customers to utilize the local platform.

So far, today’s notice only mentioned that the move would allow HBUS to “return in a more integrated and impactful fashion as part of its ongoing strategic layout.”

Meanwhile, Huobi’s shut down in the United States doesn’t reflect the general state of affairs with Huobi Group and its other subsidiaries. Just last month, Coinfomania reported that Huobi Japan raised $4.6 million that it plans to invest in the development of security token-related products.

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Author: Wilfred Michael

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Author: Wilfred Michael