Huobi US (HBUS) Crypto Exchange Shuts Down After Parent Company Huobi Global

Huobi crypto exchange

Huobi’s U.S. cryptocurrency exchange platform, HBUS, has announced that the company will be ceasing its operations. In a notice posted on Huobi’s official website, the company states that HBUS will need to close all of its operations in order to return with a more impact in accordance with the company’s new and ongoing strategic layout.

This move comes after HBUS’ parent company, Huobi Global, has already declared that it also terminates its trading operations in the U.S. due to regulatory uncertainty in the country.

The HBUS team also adds that the company’s trading services, which were previously offered in the US, will no longer be available from 15th December onwards. However, customers will have the extended time until January 31st of next year to make withdrawals from their accounts on the crypto exchange platform. Huobi concludes the notice by offering customer service and support for the users in case of any issue regarding the shut down and additional support.

The company also attached an FAQ page link in the notice that provides a little more details to the changes in the process of ceasing all operations. It details that in case the customer did not make the necessary withdrawal of their digital assets from the platform before the given deadline of 31st January 2020, they will have to contact the provided email (support[at]hbus.com) and contact customer support and arrange a feasible way to receive their crypto assets back.

Crypto Withdrawal and Deposits

The post also answers issues such as in case customers do not meet the minimum withdrawal criteria they are welcomed to exchange their virtual assets into other assets that have lower minimum withdrawal limit. It also provides a chart showing the withdrawal fees: for $100 USD withdrawal, the fee will be an additional charge of $5 USD. Similarly, on 0.01 of Bitcoin(BTC)trade, there will be a 0.001 of BTC fee charge, and on 0.05 Ethereum (ETH)trade, there will be a charge of 0.005 ETH. The list also includes all the other cryptocurrency fees that the cryptocurrency exchange platform offers.

Any deposits made into the HBUS accounts will not be accepted anymore according to the company, and any deposits made after December 16th will no longer be shown up in the account balance data. The company also encourages customers to export all transactions and their information before the deadline of January 31st and after which they will have to contact customer support to access their transaction history.

In case the customers can not log into their HBUS accounts on the trading platform or if they require any additional support from the company related to the undergoing changes, they can do so by reaching through the contact information provided on both the official notice and the FAQ page.

What do you think about the article?

Sharing Is Caring: