The Huobi Cryptourrency Exchange Suspends Service for Japanese Citizens
The exchange Huobi sent an e-mail to Japanese users with a notification that their accounts will be closed. The lock only applies to accounts issued for citizens of Japan. The given decision is caused by observance of the legislation of Japan.
The possibility to carry out trades by residents of this country will be suspended on July 2. At the same time, for today, the website of the company in Japanese is still available.
The e-mail sent out says that Huobi deals with digital assets in the network and complies with the laws of the states with which it operates. Note that the crypto exchange itself has a registration in Seychelles.
Representatives of Huobi noted that over the past few months, the Japan Financial Services Agency (FSA) continued to impose new sanctions on crypto exchanges. As a result, the citizens of the country have ceased to actively work with them. In turn, the government of Japan believes that the imposed restrictions are aimed at a long-term perspective.Despite the fact that today they can bring some inconvenience, in the future they will certainly be able to benefit the state of the cryptocurrency market.
Note that a somewhat similar situation occurs in China. Despite the fact that the authorities officially prohibit virtual currencies, the Chinese government is also showing interest in the crypto fund.