Huobi Global, a global blockchain asset financial services provider, announced that it will no longer be able to offer services to Singaporean users.
The company cited the country’s strict regulations as a reason and will be closing the accounts of all Singapore-based users on 31st March 2022.
Huobi added that access to its services will also be gradually phased out prior to that and urged its Singapore users to close out all their active positions and withdraw all their digital assets by then.
The crypto exchange had to similarly wind down its operations in China following major crackdowns from the regulator.
Huobi said in a statement,
“Huobi Global has always been committed to offering digital asset trading services while following all applicable laws. Regrettably, this means Huobi Global can no longer offer services to Singapore-based users. We apologize for any inconvenience caused and thank you for your past support.”
Featured image: Edited from Unsplash
