A significant Hong Kong-based on-line brokerage agency has reportedly suspended cryptocurrency futures buying and selling as a consequence of regul
A significant Hong Kong-based on-line brokerage agency has reportedly suspended cryptocurrency futures buying and selling as a consequence of regulatory issues.
Futu Securities, one of many largest buying and selling brokerages in Asia, has halted help of crypto futures contracts and buying and selling companies in response to regulatory necessities, Chinese language monetary publication Sina Finance studies Thursday.
The platform’s customer support reportedly said that the suspension will have an effect on main contracts together with CME Bitcoin futures, one of many world’s earliest Bitcoin (BTC) futures contracts.
The customer support workforce famous that non-futures crypto merchandise like Grayscale Bitcoin Belief and the Osprey Bitcoin Belief will probably be nonetheless out there on Futu.
Futu didn’t instantly reply to Cointelegraph’s request for remark.
Associated: Huobi reportedly suspends futures buying and selling ‘quickly’ in some international locations
Based in 2012, Futu Securities is a Nasdaq-listed funding firm backed by Chinese language web mogul Tencent. The brokerage’s operator Future Holdings offers wealth administration companies in international locations like China, Hong Kong and the US. The corporate’s founder and CEO Leaf Hua Li is a former Tencent worker.
In early June, Futu executives introduced the corporate’s plans to develop cryptocurrency companies exterior China amid Beijing’s renewed crackdown on Bitcoin (BTC) and different cryptocurrencies.
Huobi, one of many largest cryptocurrency exchanges on this planet, yesterday restricted crypto derivatives companies for brand spanking new and current customers over issues about China’s regulatory crackdown. Final month, Hong Kong regulators reportedly moved to ban retail buying and selling in Hong Kong following long-time hypothesis a couple of probably prohibition.