Huobi Global will expel all its US customers from its platform later this month.
The cryptocurrency swap announced the freeze on all US accounts on Nov. 13, describing the transfer as a compliance milestone to comply with US laws and regulations. Huobi recommends that customers transfer their assets to HBUS, the US affiliate of the global brand.
"Our user agreement specifically prohibits US users from using our platform," said Huobi about its main platform.
This transaction completes the closure of US accounts by Huobi, which continues to push users to HBUS, based in San Francisco. Led by Frank Fu, formerly of Meitu's Chinese photo editing app, HBUS has been present in the United States since the beginning of last year.
Huobi said all outstanding balances had to be withdrawn by November 13 and offered to users with amounts below the required minimum through customer support.
Customers can receive their funds in bitcoins or USDT, according to the announcement. Huobi is also committed to repaying point card purchases at a ratio of 1: 1 in USDT.
The freezing of Huobi's accounts is similar to that of other international stock exchanges. In June, Binance also attacked US users by pushing them to a partner registered with FinCEN.
Huobi image via Shutterstock