The founder of Huobi, Chinese biggest cryptocurrency exchange, Leon Li announced that it terminates its services for bitcoin, starting from November, 1st. So, on October 31st, it was its last day to operate. The exchange ceased its services due to the new law.
Explaining the reasons for Huobi exchange service termination, Leon Li reminded about Chinese financial regulator’s ban of ICO in the country. Ten days later after the law adoption, the company officially received notices and guidance to stop trading. In the meanwhile, Huobi’s subsidiaries abroad continue their services as before.
However, Huobi China is not going to stop its activity at all. The company intends to become “ a professional integrated information and research service provider in the vertical field of blockchain”. Chinese market will be the main subject for research.
According to Huobi founder, it is a historic step for the company and “watershed” for China’s digital assets industry and an important event for the global digital assets industry.
Besides, yesterday one more China’s cryptocurrency exchange, OK.Coin, stopped working.