Crypto exchange Huobi’s China-based entity set for dissolution

According to reports, Huobi is dissolving its entity in Beijing. The move won’t have any impact on crypto trading services as Huobi already pulled its exchange arm out of the Chinese market at the end of 2017. This was after the Chinese government outlawed trading on crypto exchange platforms. China has been particularly strict on regulating crypto mining as well as trading in the country.

Huobi’s move comes just a month after Beijing Lekuda, founded by OK Group’s Star Xu in 2012 to operate Huobi’s then-rival exchange OKCoin, also filed for dissolution.
The Beijing Huobi Tianxia Network Technology company has five subsidiaries and a registered capital equivalent to $1 million.
Image: PxHere
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