Huobi Global Cuts Off US Traders from November 13

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Huobi Global is the next exchange to lock out US customers and transform its US-based business. From November 13, US-based accounts on Huobi Global will be locked, breaking the possibility for arbitrage and making crypto trading a more regional affair.Huobi Global follows the examples of Binance, Poloniex, Bittrex, and other exchanges, which are offering separate businesses for US and international customers. Stringent US regulations on customer tracking, as well as securities law, are discouraging exchanges from working with the US market.US traders are warned to close position, return borrowed funds, and start withdrawing assets.The new company that will take over, Huobi US, is a San Francisco based entity, and works as a partner to Huobi Global. The model is similar to Binance, where Binance US is not a subsidiary.At the same time, other regions are rising with regulations friendlier to crypto trading. The European Union is rising as one such…

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