Huobi to cease trading for Japanese, still aiming to open an exchange in Japan

27 Jun, 2018
by Jelmer van der Dussen
Breaking News
Huobi to cease trading for Japanese, still aiming to open an exchange in Japan

Huobi Pro will stop offering trading services to customers from Japan, Chief Strategy Officer Charlie Tsai of Huobi confirmed to Chepicap during the Blockchain Expo in Amsterdam.

Tsai said that Japanese investors can't use the services anymore starting next month due to 'regulations of the local authorities'. Huobi still has plans to open a local exchange in Japan. To accomplish that, Huobi will try to register the exchange, or acquire an existing license, Tsai said to Chepicap.

Japanese customers will not be able to make use of the trading services of Huobi anymore starting July 2.

Last week, six exchanges received a business improvement order from the Japan Financial Services Agency: Quoine, bitFlyer, BitBank, BTCBox, TechBureau and BitPoint. Tsai said that the business improvement order isn't the reason for Huobi to close the exchange for Japanese customers, but that it does have to do with regulations and compliance.

Next month Huobi will open two new local editions: Huobi US and Huobi Australia. The US exchange will be a coin-to-coin-exchange, while in Australia it will be possible to trade with Australian dollars. Huobi is the third largest exchange in terms of volume.

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