{"id":8877,"date":"2021-06-28T18:54:13","date_gmt":"2021-06-28T18:54:13","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/huobi-prohibits-chinese-residents-from-leveraging-cryptocurrency-derivatives\/"},"modified":"2021-06-28T18:54:13","modified_gmt":"2021-06-28T18:54:13","slug":"huobi-prohibits-chinese-residents-from-leveraging-cryptocurrency-derivatives","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/huobi-prohibits-chinese-residents-from-leveraging-cryptocurrency-derivatives\/","title":{"rendered":"Huobi Prohibits Chinese Residents From Leveraging Cryptocurrency Derivatives\u00a0"},"content":{"rendered":"<p><strong>The Seychelles-based cryptocurrency exchange originally founded in China, Huobi, has officially banned Chinese residents from swapping cryptocurrency derivatives, according to the company\u2019s revised user agreement. China is now listed as prohibited and residents from the country are forbidden to use Huobi\u2019s service.<\/strong><\/p>\n<h2>Chinese Citizens Are Now Banned From Huobi\u2019s Crypto Derivatives Products<\/h2>\n<p>The digital currency exchange Huobi has updated its <a href=\"https:\/\/www.huobi.com\/support\/en-us\/detail\/360000298561\">terms of service (ToS)<\/a> and user agreement and notes that Chinese residents are banned from using Huobi\u2019s crypto derivatives products.<br \/>\n\u201cUse of the service by persons located in the United States of America, Canada, Hong Kong China, Japan, Cuba, Iran, North Korea, Sudan, Syria, Venezuela, and Crimea is prohibited,\u201d Huobi\u2019s user agreement states.<br \/>\n\u201cIn addition, anyone in mainland China, Taiwan China, Israel, Iraq, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, Sevastopol, and the UK (retail users only) is prohibited from using the derivatives trading services provided by this website,\u201d Huobi\u2019s ToS details.<br \/>\nHuobi was originally founded in China in 2013 by Leon Li and was among the first crypto exchanges operating in the country following the inception of Btcchina\u2019s (now BTCC) exchange.<br \/>\nIn 2017, following a ban on cryptocurrency trading by the Chinese government, Huobi <a href=\"https:\/\/www.reuters.com\/article\/us-china-bitcoin\/chinas-okcoin-huobi-exchanges-to-stop-bitcoin-withdrawals-idUSKBN15P0HE\">ceased operations<\/a> for mainland citizens and temporarily halted bitcoin withdrawals. Huobi now operates with offices located in Seychelles, the United States, Japan, and South Korea.<\/p>\n<p><!-- growjs zone placement 31 -->   <!-- end of growjs zone placement --> <\/p>\n<p>Huobi\u2019s ToS changes follow Chinese internet services censoring specific keywords like Binance, Huobi, and Okex. <a href=\"https:\/\/www.aljazeera.com\/economy\/2021\/6\/9\/searches-for-crypto-exchanges-currently-blocked-in-china\">Reports<\/a> noted that Baidu, Sogo, Zhihu, and Weibo have been blocking specific crypto sites and banning any crypto-related search queries.<br \/>\nHuobi and Okex started removing the ability for Chinese residents to access specific crypto services at the end of May. Huobi announced at the time that it was discontinuing mining services to customers residing in mainland China.<\/p>\n<p><em><strong>What do you think about Huobi banning Chinese residents from swapping cryptocurrency derivatives products? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nExchanges, Bitcoin China, BTC China, BTCC, btcchina, China, China crackdown, Chinese Government, Chinese residents, crypto derivatives, cryptocurrency derivatives, Huobi, Huobi Exchange<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Seychelles-based cryptocurrency exchange originally founded in China, Huobi, has officially banned Chinese residents from swapping cryptocurrency derivatives, according to the company\u2019s revised user agreement. China is now listed as prohibited and residents from the country are forbidden to use Huobi\u2019s service. Chinese Citizens Are Now Banned From Huobi\u2019s Crypto Derivatives Products The digital currency&hellip;<\/p>\n","protected":false},"author":0,"featured_media":8878,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8877"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8877"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8877\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8878"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}