Huobi to Stop Crypto Derivatives Trading Services in New Zealand

Cryptocurrency exchange Huobi said on Tuesday it would stop offering derivatives trading services to New Zealand users starting next week, just months after the country expanded. Huobi will stop offering services including coin margin futures, coin margin swaps, Tether (USDT) margin contracts, options, and any exchange-traded products (ETPs) to New Zealand users on August 23. Additionally, Huobi’s user agreement was updated to list New Zealand as a “restricted jurisdiction” for derivatives trading. The exchange said it would orderly restrict derivatives trading in New Zealand user accounts while ensuring the safety of user assets.