Huobi Global will freeze all US user accounts from November 13

[nanaimogold]

Seems like Top cryptocurrency exchanges are making ways to create a separate market for USA customers different from what is obtainable at the international market (probably because of SEC) Binance, Upbit, Bittrex and now. Huobi. What does this spell for crypto market as a whole


https://huobiglobal.zendesk.com/hc/en-us/articles/360000659122/

[sulis sudibyo]

it's okay..
even if they make different exchanges for US citizens, there won't be an impact that will occur for the market. maybe the trading volume of the exchange will be divided, but overall nothing is different. so I doubt this will make a difference to the market.

[deadsilent]

Poloniex did the same thing also but they closed the Exchange for 30 countries. I think they will make a separate Exchange (SEC compliant) for other countries which are not included on the service. If they do that, I think there's no difference at all. Only the price because of arbitrage.

[Kyraishi]

Expected to be honest, I am going to make a guess that a lot of the asian exchanges are going to start splitting their exchange for different countries, with a lot of them following the format of binance/binance US.

They've given us a week of notice, I'm assuming emails have all been sent, but there is still going to be people who forget, are they going to let people withdraw their money after the deadline?

[Casdinyard]

They've given us a week of notice, I'm assuming emails have all been sent, but there is still going to be people who forget, are they going to let people withdraw their money after the deadline?

They should be and should send another batch of email to remind that there will be few days left before their account be close.

SEC is really strict about US traders and for sure exchange sites don't want their business to get compromise just because they didn't follow. Hence it wouldn't be a loss after all as they're just migrating the US traders to more dedicated exchange site.

[magneto]

Within reason if you look at the grand scheme of things.

There has always been a lot of restrictions on exchange users from the US and regulation is certainly not loosening any time soon, so it's only a matter of time before these global exchanges shut their doors to US customers as they become more and more developed.

Anyhow, make sure you pull out your funds asap if you do have a balance. Even if you may not be a resident right now of the US but signed up under there, you should beware.

[passwordnow]

It seems that other known exchanges are doing that for the same cause. They can't ignore the US regulation and that's why they are making a separated market for their US customers. And if time will come that they have to close their US market, it's not the problem of the exchange nor the customers but the law itself where they are operating. Too much restrictions for these exchanges to operate on their jurisdiction could also lead to that scenario.

[milewilda]

It seems that other known exchanges are doing that for the same cause. They can't ignore the US regulation and that's why they are making a separated market for their US customers. And if time will come that they have to close their US market, it's not the problem of the exchange nor the customers but the law itself where they are operating. Too much restrictions for these exchanges to operate on their jurisdiction could also lead to that scenario.

They wont have any option but to comply with it by means on making separate one solely for US customers/users.If not then they would faced up some problems.
Exchangers wont let US market to be separated thats why they do make that partition for them not to lose it out.As mentioned above various known exchangers
already done so and i wont be surprised for others to do the same thing.

[asriloni]

Seems like Top cryptocurrency exchanges are making ways to create a separate market for USA customers different from what is obtainable at the international market (probably because of SEC) Binance, Upbit, Bittrex and now. Huobi. What does this spell for crypto market as a whole


https://huobiglobal.zendesk.com/hc/en-us/articles/360000659122/

Another separate market but that must be the best idea to create a separate market that fits with SE regulation rather than use the old exchange site which focused to be used globally by various countries.
if you are creating a separate market like binance and it will be so easy to maintain the US customers caused by that separate exchange site has already made based on the SEC regulation.


If you are still using your base service to accept US customer and you are putting your base service like huobi global in a big risk when it still deals with US customer. This will give a huge impact caused by US customer can get in the market. This is the best way how to deal with the US market. There must be a separate service that fully complies with SEC regulation.

[passwordnow]

It seems that other known exchanges are doing that for the same cause. They can't ignore the US regulation and that's why they are making a separated market for their US customers. And if time will come that they have to close their US market, it's not the problem of the exchange nor the customers but the law itself where they are operating. Too much restrictions for these exchanges to operate on their jurisdiction could also lead to that scenario.

They wont have any option but to comply with it by means on making separate one solely for US customers/users.If not then they would faced up some problems.
Exchangers wont let US market to be separated thats why they do make that partition for them not to lose it out.As mentioned above various known exchangers
already done so and i wont be surprised for others to do the same thing.

Yes, that's all they have to do because if they won't follow what the rules of US they will be facing extreme consequence that will lead to a big loss for the company. US is one big market for them as we know, they just can't fly it away without doing an action.
Huobi is a contender in exchangers that's why expect other exchanges to do the same just for them to comply.

[CjMapope]

Seems like Top cryptocurrency exchanges are making ways to create a separate market for USA customers different from what is obtainable at the international market (probably because of SEC) Binance, Upbit, Bittrex and now. Huobi. What does this spell for crypto market as a whole


https://huobiglobal.zendesk.com/hc/en-us/articles/360000659122/

damn   This is like the third major exchange i have heard this from now : / Something must have come into play, some new law i bet
Funny how the biggest news it seems like we dont even hear about then all a sudden boom big changes like this
This is prob why all this dex hype lately, all these exchanges closing doors for US customers, i tell ya it feels good to be a northerner, gov dosent worry about what we do up here mostly haha

[milewilda]

It seems that other known exchanges are doing that for the same cause. They can't ignore the US regulation and that's why they are making a separated market for their US customers. And if time will come that they have to close their US market, it's not the problem of the exchange nor the customers but the law itself where they are operating. Too much restrictions for these exchanges to operate on their jurisdiction could also lead to that scenario.

They wont have any option but to comply with it by means on making separate one solely for US customers/users.If not then they would faced up some problems.
Exchangers wont let US market to be separated thats why they do make that partition for them not to lose it out.As mentioned above various known exchangers
already done so and i wont be surprised for others to do the same thing.

Yes, that's all they have to do because if they won't follow what the rules of US they will be facing extreme consequence that will lead to a big loss for the company. US is one big market for them as we know, they just can't fly it away without doing an action.
Huobi is a contender in exchangers that's why expect other exchanges to do the same just for them to comply.

Well, exchange market does have a pretty fierce competition and no question that others would do the same.
@OP you should lock up this thread yet im sure that theres no need for further discussions about this news.

[nanaimogold]

Seems like Top cryptocurrency exchanges are making ways to create a separate market for USA customers different from what is obtainable at the international market (probably because of SEC) Binance, Upbit, Bittrex and now. Huobi. What does this spell for crypto market as a whole


https://huobiglobal.zendesk.com/hc/en-us/articles/360000659122/

Another separate market but that must be the best idea to create a separate market that fits with SE regulation rather than use the old exchange site which focused to be used globally by various countries.
if you are creating a separate market like binance and it will be so easy to maintain the US customers caused by that separate exchange site has already made based on the SEC regulation.


If you are still using your base service to accept US customer and you are putting your base service like huobi global in a big risk when it still deals with US customer. This will give a huge impact caused by US customer can get in the market. This is the best way how to deal with the US market. There must be a separate service that fully complies with SEC regulation.

Yes, i dont think its entirely a bad idea to create an exchange tailored to best serve the US customers because of the regulations and laws directly affecting a US user because so far, what is applicable in China or other parts of the seems to be different for USA. So its fair

[enhu]

Seems like Top cryptocurrency exchanges are making ways to create a separate market for USA customers different from what is obtainable at the international market (probably because of SEC) Binance, Upbit, Bittrex and now. Huobi. What does this spell for crypto market as a whole


https://huobiglobal.zendesk.com/hc/en-us/articles/360000659122/

Another separate market but that must be the best idea to create a separate market that fits with SE regulation rather than use the old exchange site which focused to be used globally by various countries.
if you are creating a separate market like binance and it will be so easy to maintain the US customers caused by that separate exchange site has already made based on the SEC regulation.


If you are still using your base service to accept US customer and you are putting your base service like huobi global in a big risk when it still deals with US customer. This will give a huge impact caused by US customer can get in the market. This is the best way how to deal with the US market. There must be a separate service that fully complies with SEC regulation.

Yes, i dont think its entirely a bad idea to create an exchange tailored to best serve the US customers because of the regulations and laws directly affecting a US user because so far, what is applicable in China or other parts of the seems to be different for USA. So its fair

Each country will have different laws for cryptocurrency US citizen will be under the US SEC of course but then those countries where cryptocurrency isn't yet dealt by the government, I guess is free for them. China's law against cryptocurreny I think will really change entirely different when their digital fiat currency will be launched.

Most exchanges had been doing it already, Binance, Huobi, Polo, the list will add up soon.

[Flux0z]

Not a big deal at all, we're gonna see more and more big exchanges following the same pace eventually. The government in the US really wants to make crypto as bad as possible for their citizens. Hopefully there'll be a day where Decentralized Exchanges rule and dominiate our world, making these exchanges irrelevant to most of us. Accumulate DEX project coins while they're cheap might not be such a bad choice, feels like buying BNB at 10 cents when I buy BLOCK at $1 or less 

[cryptoaddictchie]

These big exchange are wise since they are segregating the US customer to global customers. I hope SEC is happy already for doing such restrictions that lead to creation of these US exchanges. Global exchanges such as Binance will probably drop some volume due to the Binance US. We know how big is the contributions of traders and investors from US so probably we can see the difference if they arent around in the main exchanges of these major centralized exchange.