Huobi to End Crypto Derivatives Trading in New Zealand

Cryptocurrency exchange Huobi Global will stop offering derivatives trading services to users in New Zealand starting next week, just a couple of months after expanding operations to the country, the company said Tuesday.

The Seychelles-based exchange will halt services including coin-margined futures, coin-margined swaps, Tether -margined contracts, options as well as any exchange traded products to New Zealand-based users on Aug. 23, according to aOn the same day, Huobi's user agreement will be updated to include New Zealand as a"restricted jurisdiction" with respect to derivatives trading.

Huobi expanded operations to New Zealand as recently as June, saying it had been entered into the country'sUsers from 11 jurisdictions including the U.S., Canada, Japan, Iran and Singapore are already prohibited from using"all services" offered on the Huobi platform, while users from 12 jurisdictions including the U.K.

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