Cryptocurrency Exchange Huobi To Suspend Trading In Japan
Cryptocurrency exchange Huobi Pro will suspend trading in Japan starting next month, as reported by Coinpost.
Huobi – the third largest cryptocurrency exchange by 24-hour trading volume – made the announcement in an email to Japanese investors on Wednesday, stating it will suspend trading services for investors in the country starting on July 2nd.
Huobi Pro is not registered with the Financial Services Agency (FSA) – Japan’s financial regulatory body – which is required under a money transaction laws introduced in 2016.
Notably, Huobi attempted to solidify a partnership with SBI Virtual Currency – a licensed exchange backed by Japanese financial giant SBI Holdings – to launch a regulated trading platform in Japan. However, the deal was later scrapped by SBI Virtual Currency in March.