Huobi Global to Expel Singapore Users, Citing Local Regulations

Huobi Global to Expel Singapore Users, Citing Local Regulations
Crypto exchange Huobi Global will close the accounts of all Singapore-based users by March 31, 2022 to comply with local regulations, the exchange said in a statement on Tuesday.Huobi claims to be expanding its overseas presence to make up for expelling Chinese users, which represent half of its total user base and 30% of its revenue, according to co-founder Du Jun and Global Strategy Director Jeff Mei.After China’s central bank launched yet another crackdown on crypto trading, Huobi announced it will be phasing out mainland China accounts by the end of 2021.Singapore, known as a crypto hub, has been included…