Regulated exchange shutting down

Japanese cryptocurrency exchange BitTrade revealed the surprise news that it’s closing down. That’s because it’s become part of the Huobi empire, and as such, it’s going to be relaunching pretty much from scratch under the Huobi name. Bittrade was one of the 16 cryptocurrency exchanges that had been given official regulated status by Japanese authorities, but as part of the rebranding, it has to completely shut down its current trading system. Huobi had snapped up a controlling stake in the company, and the new exchange is going to support six cryptocurrencies from day one, alongside 11 trading pairs. Existing customers are going to need to open brand new accounts with Huobi.