Huobi Closes Singapore-Based Accounts to Comply with Local Legistation

The major digital asset exchange – Huobi Global – revealed it will shut the accounts of all Singapore-based users by March 31, 2022. The company will also start closing its doors for new customers.
China And Now Singapore
According to an official announcement on its website, Huobi Global will stop providing cryptocurrency services to clients in Singapore to comply with the laws of the city-state, which classifies as a “restricted jurisdiction” for the company.
All Singaporean users must “take immediate action to close out all active positions and withdraw all digital assets” by the end of March next year. Those who wish to open new accounts will be gradually restricted from doing so.
“Regrettably, this means Huobi Global can no longer offer services to Singapore-based users. We will be closing the accounts of all Singapore-based users on March 31, 2022.”
Singapore became another restricted destination for Huobi. Shortly after China imposed its latest crypto crackdown, t

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