Huobi Crypto Exchange Leaves Japan’s Market
June 28, 2018
From the next Tuesday on Huobi Pro crypto exchange will stop rendering its services on the territory of Japan.
The exchange has sent its users from Japan e-mails to inform that it temporarily stops Japan version of its website from July 2. Huobi Pro employees have confirmed this but haven't given any detail on the ways to withdraw assets from the platform.
The reason for Huobi Pro leaving the market is that the company is lacking the license for crypto trading in the country from the Japan’s Financial Services Agency (FSA). Note that the exchange has already contacted the regulator to resolve the issue.
In addition, earlier Huobi Pro declared collaborating with SBI exchange that was granted FSA’s license to establish joint regulatory trade platform for Japan’s market. But the plans were cancelled in March.
According to the Internet traffic tracing service Alexa, Japanese website users make 13.3% of the total number of users.
Remember that in March this year Huobi Pro got officially registered in the US, and opened its offices in South Korea and Great Britain soon after it.