The news comes after Huobi Group announced it would force its US-based customers to use HBUS as part of a measure to comply with US laws. The company said in a notice that it would shut down trading services on December 15, 2019. Customers have until January 31, 2020 to withdraw all their assets. Customers who have insufficient balances to meet the minimum withdrawal requirements were advised to convert their assets into another crypto or fiat to see if they can meet alternative minimum requirements, CoinDesk has cited an FAQ.
The US exchange was launched in early 2018 and is registered as a money services business with the Financial Crime Enforcement Network. The exchange also launched an institutional sales and customer service group earlier in 2019, targeting large players for its OTC desk.
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