The China-based cryptocurrency exchange Huobi has stated that trading on their platform is now opened for South Koreans, according to an announcement made by the company on March 30th.
“On that day, we will open 201 trading pairs of 99 digital assets which have passed the strict review for being listed on [our exchange],” Huobi mentioned.
The main values of Huobi’s organization are “integrity and righteousness, a commitment to openness, innovation, cooperation and an enterprising spirit,” as written on their website.
The company mentioned that it has a protection fund for its users and if a situation that is outside of their control happens and incurred loss for its customers, it has a compensation program for its investors. Huobi also stated that is has an “User educational mechanism before investment,” to help new users better understand the fundamentals of the cryptocurrency market.
The Chinese government has put a lot of pressure recently on cryptocurrency exchanges by banning ICOs and domestic crypto-fiat exchanges last year. As of now, China is still enforcing these measures. This is the reason why Huobi Pro has decided to launch its Pro Exchange in Singapore.
South Korean exchanges had created their own regulatory body, in the beginning of 2018 to make the government more flexible in their approach towards the regulation of cryptocurrency-related companies.
There were also rumors that the South Korean government might ban cryptocurrencies because they were interviewing local South Korean banks to investigate their relationships with cryptocurrency exchanges.