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 biggest trading brokerages in Asia, has halted assist of crypto futures contracts and buying and selling companies in response to regulatory necessities, Chinese language monetary publication Sina Finance reports Thursday.
The platform’s customer support reportedly acknowledged 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 crew famous that non-futures crypto merchandise like Grayscale Bitcoin Belief and the Osprey Bitcoin Belief will probably be nonetheless obtainable on Futu.
Futu didn’t instantly reply to Cointelegraph’s request for remark.
Associated: Huobi reportedly suspends futures trading ‘temporarily’ in some countries
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 america. The corporate’s founder and CEO Leaf Hua Li is a former Tencent worker.
In early June, Futu executives announced 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 the planet, yesterday restricted crypto derivatives companies for brand spanking new and present customers over issues about China’s regulatory crackdown. Final month, Hong Kong regulators reportedly moved to ban retail trading in Hong Kong following long-time hypothesis a few doubtless prohibition.