Huobi forcing out US traders out

[Pipdips]

Nothing too shocking.

If you're a us trader and use an exchange that hasn't yet booted us residents from its platform, then you're begging for problems if you don't withdraw your funds beforehand. It has been a trend amongst exchanges to follow this course of action, so better just use an exchange as Coinbase. You'll get to sign up there eventually anyway because the non kyc options are running out quickly.

The worst part about using non kyc exchanges is that they don't have to justify any of their actions to their users, so you're at their mercy completely. It's not worth the stress and hassle at all.

I sent you +1 Merit point, just for saying it like it is.

And you know what? I do not care if these crypto exchanges block USA traders. If I never own or trade another bitcoin in my entire life, I'd be fine with that.

The crypto exchanges are all just casinos, and they also act as banks. They are Weirdo Banks. They are not really exchanges. They just have these flashy websites that are very good at convincing the world they are trading platforms.

Bitcoin itself is not a scam but those "exchanges" are!!!

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[exstasie]

It seems like Huobi has finally had enough and wants to push every US trader out of their exchange because of the strict regulations Americas have with crypto. Although they have a US based exchange that US citizens could use, having these different exchanges could be quote confusing don't you think?

Source: https://cointelegraph.com/news/huobi-global-to-freeze-us-customer-accounts-by-mid-november/amp

More than anything, this is a tacit admission that they've been turning a blind eye to US traders on Huobi Global for the past year. Their terms already explicitly prohibited US traders when they launched HBUS last July, but I guess they were never enforced very strictly.

And you know what? I do not care if these crypto exchanges block USA traders. If I never own or trade another bitcoin in my entire life, I'd be fine with that.

What does one have to do with the other?

[wozzek23]

I hope that America is not just using these tactics to try to kill cryptocurrency because it seems they are the ones that is having issue most with all these exchanges, they have had issue with all external exchanges like binance and now this very big exchange again.

I don’t know what could have transpired between them and I think that it also took the intervention of some people for Binance to have created their own separate cryptocurrency exchange, otherwise, they would not have been able to also trade on binance with the issue they have then, maybe huobi will also follow binance foot step. This is the disadvantage of centralized system, it is because the US knows the owner of these exchanges that they could be placing those regulations on them, is it decentralized exchange they want to try that with?

[aardvark15]

It seems like Huobi has finally had enough and wants to push every US trader out of their exchange because of the strict regulations Americas have with crypto. Although they have a US based exchange that US citizens could use, having these different exchanges could be quote confusing don't you think?

Source: https://cointelegraph.com/news/huobi-global-to-freeze-us-customer-accounts-by-mid-november/amp

Similar situations have happened with Binance and Poloniex  and probably others too. It’s going to be hard for Americans to find a good exchange at this point. I have used several and I think only Kraken and Coinbase are allowing American customers of the exchanges I have used.  Not sure what others are out there anymore since I stopped active trading.

[aardvark15]

It seems like Huobi has finally had enough and wants to push every US trader out of their exchange because of the strict regulations Americas have with crypto. Although they have a US based exchange that US citizens could use, having these different exchanges could be quote confusing don't you think?

Source: https://cointelegraph.com/news/huobi-global-to-freeze-us-customer-accounts-by-mid-november/amp

Similar situations have happened with Binance and Poloniex  and probably others too. It’s going to be hard for Americans to find a good exchange at this point. I have used several and I think only Kraken and Coinbase are allowing American customers of the exchanges I have used.  Not sure what others are out there anymore since I stopped active trading.

I forgot another exchange that stopped allowing American customers is Bitfinex. It seems like a growing problem for many of the big established exchanges.

[Hypnosis00]

What it makes difficult for them to establish in US is because of President Trump have already on the block of cryptocurrency exchange for all US citizens. If we read this one https://www.forbes.com/sites/michaeldelcastillo/2019/09/14/trump-executive-order-banning-a-cryptocurrency-could-mutate-into-far-reaching-law/#5897297c55d2 It is cleared up that US can't be a good room for crypto,  

Its gonna be a big problem if Huobi tries to push themselves to US. It is good that they'll take some alternatives but not really sure if they will succeed or just another failure again.

[Chemcrier]

There would come a time when US traders would be welcome to trade in any Cryptocurrency exchange if their choice in the future because I foresee a future where Cryptocurrencies would be accepted in the US just like it is accepted in China now, Binance did it, Huobi is doing it and some other exchanges has done it but I think this is just the beginning, the ends is what we all have our eyes on.

[aardvark15]

What it makes difficult for them to establish in US is because of President Trump have already on the block of cryptocurrency exchange for all US citizens. If we read this one https://www.forbes.com/sites/michaeldelcastillo/2019/09/14/trump-executive-order-banning-a-cryptocurrency-could-mutate-into-far-reaching-law/#5897297c55d2 It is cleared up that US can't be a good room for crypto,  

Its gonna be a big problem if Huobi tries to push themselves to US. It is good that they'll take some alternatives but not really sure if they will succeed or just another failure again.

I think this ban is directed toward the Venezuelan Petro only and should not affect other cryptocurrencies. At least that is what I am hoping. I think it’s just an effort to penalize a specific country and not an attack on the cryptocurrency and blockchain technology specifically.

[AakZaki]

for the past few months the SEC seemed to be a frightening monster for most marketplaces that required banning U.S citizens to trade, which I know poloniex has banned U.S citizens and lastly Huobi.  and it looks like there will be more restrictions from other marketplaces.

[Yaunfitda]

No surprises here, it's pretty obvious that US is putting a lot of regulatory pressure on exchanges operating on their jurisdiction. Binance already had its US version already, to totally satisfy US SEC.

And now Huobi is going to roll out their own.

Huobi, originally founded in China, first revealed its plans to open an office in San Francisco in January this year. Now headquartered in Singapore, the exchange has been vigorously targeting overseas markets, launching a South Korean subsidiary, as well as announcing plans to open an office in London.

The US context places high demands on crypto exchanges to come under the purview of regulators, and an HBUS post this week has duly stressed that all its employees have been “educated” in Anti-Money-Laundering (AML) and Counter-Terrorism Financing (KYC), and have been “required to pass tests” on the subjects.

https://cointelegraph.com/news/third-largest-crypto-exchange-huobi-creates-new-platform-in-us/amp

[adroitful_one]

I hope that America is not just using these tactics to try to kill cryptocurrency because it seems they are the ones that is having issue most with all these exchanges, they have had issue with all external exchanges like binance and now this very big exchange again.

I don’t know what could have transpired between them and I think that it also took the intervention of some people for Binance to have created their own separate cryptocurrency exchange, otherwise, they would not have been able to also trade on binance with the issue they have then, maybe huobi will also follow binance foot step. This is the disadvantage of centralized system, it is because the US knows the owner of these exchanges that they could be placing those regulations on them, is it decentralized exchange they want to try that with?

I'm almost positive that the issue the U.S. government has with crypto is how hard it is to regulate and tax. If they could tax everyone that owns it, I don't think we would be seeing all of this regulation and proof of id requirements. It may not happen any time soon, but I can almost guarantee that the U.S. government will subpoena these exchanges to get U.S. customer's information just so that they can tax them.

[imstillthebest]

oh really ? hmmm this is bad  . i remember there were also other exchanges on the past that drop us traders and one of them if im not mistaken is binance exchange  . i dont know exactly the reason on why they keep doing that .

what was their real reason on why they dont suddenly support u.s country  ? but  i think there are still few out there who still support u.s citizens  so we shouldnt worry too much because the crypto market can still continue to grow .

[oktana]

I'm almost positive that the issue the U.S. government has with crypto is how hard it is to regulate and tax. If they could tax everyone that owns it, I don't think we would be seeing all of this regulation and proof of id requirements. It may not happen any time soon, but I can almost guarantee that the U.S. government will subpoena these exchanges to get U.S. customer's information just so that they can tax them.

precisely not only taxes.

they want to reset the statistics of huobi users from their citizens to make it look more transparent. The government actually seems to accommodate in terms of accountability, they will become facilitators if there is a need for a promotional event from huobi in their country domain or a quick follow-up whenever there is a problem between users and exchanges, this is more seen as a form of centrality, but this is actually good.

[jostorres]

for the past few months the SEC seemed to be a frightening monster for most marketplaces that required banning U.S citizens to trade, which I know poloniex has banned U.S citizens and lastly Huobi.  and it looks like there will be more restrictions from other marketplaces.

So my question now is that who is witch-hunting who? Is is that exchanges are purposely doing this to frustrate them for not giving their support or is it the sec that is giving them issue on regulation or trying to stop them from rendering services to US citizens because I really don’t understand the whole thing.

If it was sec that is stopping them, then Coinbase should not have been doing well for the fact that they are even domiciled in the state. The last time that binance too had an issue with them, initially they locked them out without giving much reason, but I think it was after a wide consultation that made them to consider opening a separate platform for them, so if you are a US citizen here, can you please enlighten us on what is happening.

[Barbut]

Huobi is doing the same thing that some exchanges already did. And it's not up to them, it's up to the government regulations. They will need to find a way to be active on US soil, like Binance.US did. Now Binance.US is a separate legal entity from Binance, operated by some other services. You can check more about it around the internet.