Huobi announces increases the leverage up to 200X for BTC and ETH contracts after clearing out users in Mainland China.
Huobi writes:
“Going forward, 125x, 150x, and even 200x leverage is available for BTC and ETH contracts on Huobi Futures. Users can adjust the leverages based on their actual needs.”
In September last year, Huobi stalled operations in China as Beijing stepped up its crackdown on cryptocurrencies. The exchange suspended new registrations for Chinese users. Huobi announced planned to close existing China accounts by the end of 2021.
The action came in the wake of a directive from the People’s Bank of China and nine other institutions, including the Supreme Court, the Ministry of Public Security, police, and internet and securities regulators, which have ruled all cryptocurrency-related transactions as illegal financial activities in September.
Today after getting rid of all china accounts, Huboi raised its leverage to 200x for Bitcoin and Ethereum contracts on Huobi Futures.