Huobi Files to Dissolve Chinese Entity Following Recent Cryptocurrency Crackdown

One of the leading cryptocurrency exchanges, Huobi, has filed to dissolve an entity based in China. This comes as the country escalates its efforts to clamp down on the cryptocurrency industry, in general.

• Evident in Chinese business registration archives, the entity’s management has filed a Resolution to dissolve On July 22nd, this year.
• The announcement further reads that “creditors are requested to declare their claims to the liquidation team within 45 days from the announcement date.”
• Listed as a claim contact person, as well as the head of the liquidation team, is Huobi Group’s founder and CEO, Lin Li.
• It’s worth noting that Huobi has moved its exchange out of China quite a while back, and it’s unlikely that this will affect its services. As of now, Huobi Group is based in the Seychelles.
• In any case, the move comes amid a broader crackdown on behalf of China towards the entire cryptocurrency industry.
• Just this month, China’s Central Bank shut down a company that provides services for cryptocurrency transactions.