Crypto exchange Huobi closes futures and leveraged transactions to Turkish users
Cryptocurrency exchange Huobi reported that due to compliance with the law, Turkish users decided to stop access to futures and leveraged transactions.
The statement made a few days ago said that the decision was made within the scope of compliance with local laws and regulations.
The statement said:
“We give our users’ needs and expectations in Turkey in 2019 due to understand the true significance Huoban Technology Inc. have established in Turkey. We are working to give you a high standard of service with our Turkish team specializing in the cryptocurrency sector in our office in Istanbul. We also shows great sensitivity in compliance with the laws and regulations of the Republic of Turkey in this context. “
“Our Futures and Leveraged Transactions (Margin) products you use at Huobi Global are derivative investment products traded over crypto assets. In our country, regulations regarding derivative investment instruments are made by the Capital Markets Board and there are uncertainties regarding crypto-based transactions in the legislation. For this reason, we would like to share that we will stop the access of our users in our country until the necessary arrangements are made. ”
It is stated that the current users can continue to trade from the Huobi Global website until April 2, 2020 and through the mobile application until April 10, 2020. In addition, it is requested to transfer the assets in futures and leveraged trading products to the stock exchange account until April 10, 2020.