EQS-News / 06/07/2022 / 11:36 GMT+8
Huobi Technology‘s The subsidiary obtained an MSB license in the United States
To further accelerate compliance progress
[5 July 2022, Hong Kong] Huobi Technology Holdings Limited (“Huobi Technologyâ€ , Stock Code: 1611. HK) announced that its subsidiary HBIT INC has successfully obtained a Money Services Business (MSB) registration from the Financial Crimes Enforcement Network (FinCEN) in the United States (US) . This is another important progress in Huobi Tech’s compliance process, which establishes a good compliance foundation for the company to conduct digital currency-related business in the United States in the future, realizing further the strategic objective of globalization and conformity.
From the enactment of laws to classified surveillance, European and American countries have relatively clear regulations on digital assets. Especially in the United States, one can imagine the rapid development of regulation since the orderly development of digital assets is well conducted. After obtaining the license, Huobi Tech’s brokerage arm could conduct regulated “foreign currency dealer” and “money transmitter” business in the United States. Going forward, Huobi Tech is expected to provide secure and compliant digital asset service to US customers while building momentum for international business expansion.
Huobi Tech has adhered to the development concept of “security” and “compliance”, continuing to build and improve a one-stop digital asset service platform. Its brokerage business provides services to institutional clients and high net worth individuals with high quality and professionalism. It also fully ensures the safety of clients’ assets with the well-rounded anti-money laundering and KYC standards as well as the risk control system. Since its launch in November 2021, the volume of brokerage trade transactions has exceeded $430 million.
As an industry-leading digital asset service platform, Huobi Tech’s subsidiary has obtained an MSB registration license, which will strengthen the development of the virtual asset ecosystem of the company. In the future, Huobi Tech hopes to promote industry-wide compliance and integration through its own actions.
To date, Huobi Tech’s subsidiaries have successfully obtained approval from the Hong Kong Securities and Futures Commission (HKSFC) to conduct Type 4 (securities advisory) and Type 9 (investment management) regulated activities. assets), which could manage portfolios that 100% invest in virtual assets; and registered as a trust company in Hong Kong with a Trust or Company Service Provider (“TCSP”) license (Hong Kong). At the same time, another subsidiary is actively applying for Type 1 (securities trading) and Type 7 (providing automated trading services) regulated business licenses under the Securities and Contracts Ordinance futures to be issued by HKSFC, to act as a compliant virtual asset trading platform in Hong Kong.
About Huobi Tech
Huobi Technology Holdings Limited (“Huobi Technologyâ€, Stock Code: 1611.HK) is a one-stop digital asset servicing platform. We are committed to leading traditional finance in the world of digital assets, with professional, compliant, secure and efficient services. Currently, the Company’s services cover cloud-based services, data center services, SaaS, virtual asset management, trust and custody, OTC brokerage, loans, trading platform and strategic investment.
File: Huobi Tech Subsidiary Obtained MSB License in US to Further Accelerate Compliance Progress
06/07/2022 Dissemination of a financial press release, transmitted by EQS Group.
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