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.
#Amsterdam Charlie Tsai, Chief Strategy of @Huobi_Pro: ‘The majority will keep using centralized exchanges, but you will see a lot of creativity in decentralized exchanges. Huobi keeps a close eye on those developments and will invest in it if we believe in it.’ #BlockchainExpo pic.twitter.com/8uetfhXXnE— Chepicap (@Chepicap) June 27, 2018