Alert: Singapore crypto exchange Houbi set to freeze accounts of US users – Cryptocurren…

Houbi, one of the largest crypto exchanges in Asia, is ready to freeze the US users’ accounts on the platform. The action is processed to suppress the individuals violating the User Agreement.

As declared by the exchange, its agreement entirely prohibits the United States residents from using the platform. Henceforth, the firm has decided to freeze the accounts and serve the laws and regulations enforced by the nation concerning the crypto assets. Houbi has rendered the users a grace period to redeem their funds. It will effectively suspend their accounts by 13 November.

The users can retrieve their funds either according to the purchased price and token used or may convert the currency into BTC/USDT. They will have to provide the exchange with their UID, Name, and the Purchase details of the Point Card: Number of points, the token used, token cost, number of copies, total points in the package.