Closing Huobi US and traders have 7 weeks to withdraw their money

Huobi US customers received an introductory notice informing them of the need to transfer funds deposited by users within 7 weeks of the announcement date.

The news of the closure was announced last weekend by the American company HBUS on its website, which says:

"HBUS Cease to Operate: We regret to inform you that HBUS will need to cease operations so that it can return in a more integrated and impactful fashion as part of its ongoing strategic layout"

Services will be halted on the San Francisco-based Huobi “HBUS” platform on December 15, with an option for US customers who will still be able to access their accounts until January 31, 2020.

The “Huobi US” platform asked its clients to withdraw all funds by then.

Prior to this move, the parent company of the American platform, "HBUS", "Huobi Global", Singapore-based company informed its American customers and just weeks ago it would freeze all assets owned by US customers as a way to comply with the regulatory authorities.

“Huobi Global” at that time encouraged all US customers to transfer their accounts to “HBUS” in order to continue using Huobi services.

The company gave its customers in the United States until November 13 to withdraw the funds.

This reflects a change in the conditions of the platform services that made it decide not to allow customers in the United States to use the Singapore-based platform.

It was a maneuver that reflects the way Binance, the world's leading trading platform in terms of trading volume, moved to the United States.

The Malta-based Binance platform took gradual steps to disable all services provided to users in the United States in September before opening its US branch, "Binance.US".

The difference between Huobi and Binance in dealing with American users is that "Binance.US" is still active and competing for the American crypto market that is currently dominated by Queen Pace, unlike "Huobi", which will close its American branch on January 31.

For the time being, it is not clear whether Huobi has plans to reopen the US platform in the future and if so, his date is unknown.