China’s Biggest Exchange Huobi Restricts Leverage Radically, Stops New Users fro

[Churphans]

Chinese crypto and blockchain journalist Colin Wu just exclusively reported that the biggest crypto exchange Huobi has restricted the size of leverage it provides to its current users.
It has also stopped news users in China from trading crypto derivatives.
The size of leverage that traders enjoyed previously totalled 125x maximum. Now, Huobi allows only 5x leverage.
The reason for that, Wu writes, is the concern of the exchange management team about the current crypto regulatory policy in China.source

[Proton]

China’s National Enterprise Information Disclosure System shows that China’s largest exchange, Huobi, applied for the cancellation of its most important Chinese company on July 22. OKEx also cancelled its Chinese company in June. They hope to move overseas, especially Singapore.