Seychelles regulator says Huobi Global has no exchange license – Bits Media

The Seichelian Islands regulator reported, that the Huobi Global cryptocurrency exchange is not registered in its jurisdiction and has no permission to conduct activities in this offshore.

According to the financial supervision department of the Seychelles (FSA), Under local legislation, Huobi Global Limited is defined as an international commercial company. At the same time, the FSA indicated the “connection of this company” with Huobi Global, Exchange for trading digital assets. The regulator published on its website
warning, that the exchange has no license for this type of activity on the territory of the Seychelles. According to the statement of the department, Huobi Global Limited is not adjusted to FSA and has not been controlled earlier. FSA also called on users to be careful about services, Huobi exchange and other similar platforms.

Huobi is not the only exchange, which was in such a situation. Last year, a similar incident occurred with the Binance exchange. Previously, the Department of Financial Services Malta (MFSA) mining farms ceased operations after inspections by government agencies, that the Binance trading platform is not regulated by local authorities and has no license in Malta. However, Binance CEO Chanpen Zhao (Changpeng Zhao) said, that in the modern world companies do not have to have offices and headquarters.

Last fall, the Bitmex cryptocurrency exchange was also involved in the trial of the illegal activity of the site in the United States. US Commodity Futures Trading Commission (CFTC) accused Bitmex of laundering money, as well as in violation of the KYC and Aml rules. According to court documents, Founder Bitmex Arthur Hayes (Arthur Hayes) can surrender to the American authorities next month.

In the Seychelles, many exchanges for the sale of crypto actures are conducting business. They include OKEX. This exchange is based on Malta, However, AUX Cayes is controlled, registered in the Seychelles. According to last year's study by the analytical company Ciphertrace, 70% cryptocurrency birz, registered in the Seychelles, do not comply with KYC standards.