{"id":52008,"date":"2021-10-29T16:07:11","date_gmt":"2021-10-29T13:07:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=52008"},"modified":"2025-09-03T02:45:47","modified_gmt":"2025-09-02T23:45:47","slug":"huobi-suspends-crypto-derivative-trading-in-mainland-china","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/huobi-suspends-crypto-derivative-trading-in-mainland-china\/","title":{"rendered":"Huobi suspends crypto-derivative trading in mainland China"},"content":{"rendered":"<p>The Bitcoin exchange Huobi has finally curtailed trading of futures and other crypto-derivatives in mainland China. The move forms part of a broader plan by the company to scale back its operations in the country.<\/p>\n<p>In October the exchange <a href=\"https:\/\/www.huobi.com\/support\/zh-cn\/detail\/44887379528332\">announced<\/a> that &#8220;in accordance with local regulatory requirements&#8221; it would complete the wind-down of the business offering clients derivatives based on digital assets.<\/p>\n<p>Obligations under deliverable contracts expiring in the current and next quarters were fulfilled on October 29. Settlements on other derivatives were completed earlier.<\/p>\n<p>Chinese journalist Colin Wu noted that Huobi&#8217;s Bitcoin wallet balance has continued to shrink. In the last 24 hours it fell by 3.34%, to 77,992 BTC (~$4.76 billion at the current rate). Meanwhile, on the morning of October 29, 10,072 BTC flowed into the OKEx exchange.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">AICoin data shows that Huobi wallets held the number of bitcoins continues to decrease. The BTC wallet balance has been reduced to 77,992.48, 24 hours hourly drop 3.34%. In addition, in the morning today, there were 10,072.50 BTC flowed into the OKEx exchange.<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1454060779192393734?ref_src=twsrc%5Etfw\">October 29, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In June 2021, Huobi closed to Chinese and British investors <a href=\"https:\/\/u1f987.com\/en\/news\/huobi-restricts-crypto-derivatives-trading-for-chinese-and-british-investors\">access to crypto-derivative trading<\/a>.<\/p>\n<p>In September, the platform <a href=\"https:\/\/u1f987.com\/en\/news\/binance-and-huobi-halt-new-user-registrations-in-mainland-china\">stopped registering new users<\/a> in mainland China after <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-slips-below-42000-as-china-tightens-crypto-trading-regulation\">another wave of crackdowns<\/a> on the cryptocurrency industry. A similar move was taken by the Bitcoin exchange Binance.<\/p>\n<p>Huobi had decided to leave China even before Beijing tightened regulation of the digital assets market, and <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-huobi-to-exit-china-ahead-of-wave-of-crackdowns\">excluded the possibility of further operation in the country<\/a>, according to Bloomberg.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bitcoin exchange Huobi has finally curtailed trading of futures and other crypto-derivatives in mainland China. The move forms part of a broader plan by the company to scale back its operations in the country.<\/p>\n","protected":false},"author":1,"featured_media":52009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[133,1168,230],"class_list":["post-52008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china","tag-crypto-derivatives","tag-huobi"],"aioseo_notices":[],"amp_enabled":true,"views":"37","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=52008"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52008\/revisions"}],"predecessor-version":[{"id":52010,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52008\/revisions\/52010"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/52009"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=52008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=52008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=52008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}