Huobi adds another country to its service restriction list.
Huobi Global, a Seychelles-based cryptocurrency exchange established by Leon Li in 2013, has announced its plans to halt derivatives trading in New Zealand.
According to the statement shared by the company, Huobi had to make this decision to comply with local policies.
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Due to this decision, starting August 23rd, clients from New Zealand will be restricted to use “coin-margined futures, coin-margined swaps, USDT-margined contracts, options, Exchange Traded Products (ETP)” services.
The company also notes that from the same day, users with IP addresses traced to New Zealand will not be able to access Houbi or use the country to complete the KYC process. New Zealand-based users will be able to close their active positions starting August 23rd.
The news comes only 2 months after Houbi has been listed in New Zealand's Financial Services Provider Register (FSPR).
It is not the first time Houbi restricted access to users around the world. Crypto exchange has prohibited access to “all services” for citizens of the USA, Canada, Japan, Singapore, Iran, Syria, Sudan, Venezuela, Crimea, Cuba, and North Korea.
On the other hand, residents from Mainland China, Hong Kong China, Taiwan China, Bolivia, Israel, Ecuador, Iraq, Bangladesh, the United Kingdom, Sevastopol, Spain, Kyrgyzstan, and New Zealand are prohibited trade in derivatives.
On July 1st, Huobi closed its operations in Thailand due to the Securities and Exchange Commission’s (SEC) decision to revoke the company's license. According to the SEC, the regulator has found “irreparable” breaches in the exchange’s operations.
Despite inconveniences in other countries, Huobi has recently received the approval of the Australian Transaction Reports and Analysis Centre (AUSTRAC) to offer trading services in this country.
