Huobi Global Crypto Exchange to Freeze All U.S. Accounts on November 13 | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
Huobi Global, a leading cryptocurrency exchange with a presence in numerous jurisdictions across the globe, has announced plans to freeze the accounts of all United States users on November 13, 2019, due to regulatory uncertainties. U.S. traders are advised to withdraw their funds before that date, according to a blog post on November 4, 2019.
Huobi Global Shuts Down U.S. Accounts
In a bid to keep operating in a compliant way and avoid incurring the wrath of the United States financial authorities such as the Securities and Exchange Commission (SEC), Huobi Global has announced that all U.S. accounts on the platform will be frozen.
As stated in its blog post, the Huobi Global User agreement expressly prohibits U.S. residents from trading bitcoin (BTC) and altcoins on the exchange, as such it has been disabling U.S. accounts to prevent them from trading on the platform.
However, starting from November 13, 2019, (GMT+8) the entire account of U.S. traders who fail to withdraw their funds from the exchange will be frozen.
Return Borrowed Funds
The Huobi team has urged users to return all funds they borrowed to carry out margin trading, whilst also withdrawing all their crypto assets on the exchange.
For assets that do not meet the minimum withdrawal threshold, users are required to contact the Huobi Global customer care service to assist them in converting the digital currencies and unused Point Cards to Bitcoin (BTC) or Tether (USDT),