One of sixteen regulated cryptocurrency exchanges in Japan has announced the complete closure of its trading system in order to relaunch as part of the Huobi group. About writes this Bitcoin.com.
Huobi Japan Holding Ltd., a division of Huobi Global, has acquired a majority stake in Bittrade. Huobi itself suspended services to residents of Japan in June this year due to friction with regulators because it was not registered to comply with their requirements..
Bittrade asked their clients reopen accounts on its platform and go through identity verification. The exchange will terminate the agreement with Bitbank Corp., which was the supplier of its former trading infrastructure and continues to function as an independent regulated cryptocurrency exchanges in Japan.
Bittrade also notes that it will not carry out transfers of client assets. Users will have to do this on their own in accordance with the instructions provided..
The exchange emphasized that the new platform will support all cryptocurrencies that have been featured on Bittrade: Bitcoin, Bitcoin Cash, XRP, Monacoin, Ethereum and Litecoin. At the same time, the first four will be traded in pairs with the yen, and BCH, ETH, LTC and MONA – also with bitcoin. Bittrade drew attention to the fact that the pairs ETH / JPY, LTC / JPY and XRP / BTC are new to its system.
Registration on the new platform is expected to be available from December 10th. The opening of deposits and trading is scheduled for January 8th. The exchange will also receive a new address: huobi.co.jp.
Bittrade stopped registering accounts on November 30. Crypto and fiat deposits will no longer be accepted on December 14, and transactions will be disabled on December 27. Old accounts will be closed on January 18, however, even without access to accounts, users will be able to receive their funds in full after this date.
Huobi announced Friday that it will vote on the future of its HT token buyback program..
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