EQS-News: Huobi Tech’s Subsidiary Obtained MSB License in the U.S. To Further Accelerate Compliance Progress
EQS-News via SEAPRWire.com / 06/07/2022 / 11:36 UTC+8
Huobi Tech’s Subsidiary Obtained MSB License in the U.S.
To Further Accelerate Compliance Progress
[5 July 2022, Hong Kong] Huobi Technology Holdings Limited (“Huobi Tech”, 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 the compliance process of Huobi Tech, which lays a good compliance foundation for the company to carry out digital currency-related business in the US in the future, further realizing the strategic goal of globalization and compliance.
From the enactment of laws to classified supervision, European and American countries have relatively clear regulations on digital assets. Especially in the US, the speedy regulatory development can be imagined since the orderly development of digital assets is well-driven. After obtaining the license, Huobi Tech’s brokerage arm could conduct “Dealer in Foreign Exchange” and “Money Transmitter” regulated activities in US. In the future, Huobi Tech is expected to provide secure and compliant digital assets service for US customers while further strengthening its international business expansion momentum.
Huobi Tech has been adhering to the development concept of “Security” and “Compliance”, continuing to build and improve a one-stop digital asset services platform. Its brokerage business has been providing services for institutional and high net worth individual customers with high quality and professionalism. It also fully ensures the security of the customers’ asset through the well-rounded anti-money laundering and KYC standards as well as the risk control system. Since its launch in November 2021, brokerage business transaction volume has exceeded $430 million.
As a leading digital asset service platform in the industry, Huobi Tech ‘s subsidiary has obtained MSB registration license, which will further empower the development of the company’s virtual asset ecosystem. In the future, Huobi Tech hope to promote the compliance and mainstreaming of the whole industry by its own actions.”
As of now, Huobi Tech’s subsidiaries have successfully obtained approval from the Securities and Futures Commission of Hong Kong (HKSFC) to conduct Type 4 (Advising on Securities) and Type 9 (Asset Management) regulated activities, which could manage portfolios that 100% invest in virtual assets; and registered 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 the Type 1 (Dealing in Securities) and Type 7 (Providing Automated Trading Services) regulated activities licenses under the Securities and Futures Ordinance to be issued by HKSFC, to conduct as a compliant virtual asset trading platform in Hong Kong.
About Huobi Tech
Huobi Technology Holdings Limited (“Huobi Tech”, Stock Code: 1611.HK) is a leading one-stop digital asset service platform. We are committed to leading traditional finance into the world of digital assets, with professional, compliant, secure, and efficient services. Currently, the company services cover cloud-based services, data center services, SaaS, virtual asset management, trust & custody, brokerage OTC, lending, trading platform and strategic investment.
06/07/2022 Dissemination of a Financial Press Release, transmitted by EQS Group via SEAPRWire.com.
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