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Bitcoin quitting China? China’s largest digital currency trading platform Huobi launches USDT and OTC operations

November 2, 2017 Financial No Comments Email Email

China’s central bank released regulatory policies on September 4, 2017, calling a halt to fundraising involving initial coin offerings and requiring those who have already raised money to provide refunds.A number of large bitcoin trading platforms including Huobi on October 31 announced full cessation of all digital assets against the yuan’s trading business, marking the end of bitcoin trading in China.

In an announcement on October 31 Huobi said that it has established offices in Singapore, South Korea, Hong Kong and mainland China, proving operations such as Huobi.Pro, an innovative digital asset exchange for global professional investors, Huobi Korea, a digital asset exchange trading in Korean won, Huobi China, a professional integrated information and research service provider, and Huobi Wallet, which is committed to providing users with digital asset management services, around the world.

Huobi.Pro is headquartered in Singapore, supporting transactions of innovative digital assets.

On October 26, Huobi.Pro announced support for USDT. USDT is the token issued by Tether and is pegged to the US dollar, assuring the stability of the cryptocurrency. On October 30, Huobi.Pro announced upcoming launch of Over-the-Counter operation to support peer-to-peer trading between legal tender against cryptocurrencies.

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