Why can’t Huobi login?
Why can\’t Huobi login? According to official news from Huobi, recently they hav
Why can’t Huobi login? According to official news from Huobi, recently they have found that some users have used the “Huobi” account and logged into the website through the official website. However, due to current regulatory requirements, registration and transactions (including but not limited to exchanges) cannot be conducted.
So what exactly is “Huobi”? Why can’t it operate legally in Southeast Asia? Why can’t Huobi login?
Firstly, because there are no clear regulations in China for virtual currency trading, ICOs, digital asset investment, and other business activities, there are related legal issues that need attention. Secondly, the current relevant regulations in China have strict control over Huobi, prohibiting any institution or individual from directly participating in illegal financial activities. In addition, the Notice on Preventing Risks of Token Issuance and Financing issued by the Cyberspace Administration of China requires local governments to strengthen the security management of blockchain technology applications and effectively implement the security responsibility. At the same time, they must strictly comply with national laws and regulations, as well as the regulations of the People’s Bank of China and relevant payment settlement organizations, and not provide funding and services to enterprises that provide unauthorized domestic and international cross-border remittances. On October 24, 2019, the State Council issued the “Regulations on China’s Pilot Free Trade Zone for Internet Freedom,” classifying virtual currencies as intangible cultural heritage starting from early 2020.
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