One of China’s largest cryptocurrency exchanges Huobi, continues to see the effects of regulation. According to the latest statement by cryptocurrency exchange Huobi Global, all services within Singapore will soon be completely terminated.
Huobi Stops Singapore Service
Huobi In the statement made by the company, it was stated that as of March 31, 2022, services for users in Singapore will be completely stopped. Emphasizing that it took this step to comply with Singapore laws, Huobi actually fell victim to increasing regulations.
Many countries have previously issued warnings to both Binance and Huobi, and crypto exchanges tend to continue to serve until the deadline, despite these warnings. Thanks to this, all users within Singapore will be able to use the services until March 31, 2022, but after this, all positions and accounts will be closed.
Founded in 2013, Huobi gains a point while losing a point. The stock market, by getting the approval of Gibraltar’s financial regulator, has made its target clear. Approval from Gibraltar’s financial regulator shows that the stock market will be more focused on the UK and Europe and will move away from the Asian market.
Huobi Token, on the other hand, fell 3% in 24 hours and 6% in 7 days in response to this. The HT price fell very sharply when the original Chinese regulations came, and it can be said that this is a normal reaction. HT, which has a peak price of $ 34, is currently trading at $ 10.