Huobi Subsidiary Receives US Money Transfer License

Huobi Subsidiary Receives US Money Transfer License

Huobi Subsidiary Receives US Money Transfer License By DailyBitcoin Editor

The subsidiary of Huobi Tech, HBIT, you receive a United States money transfer license. The license opens the door for the brokerage unit to offer cryptocurrency trading in the future.

***

  • Huobi moving forward with plans to enter the US market
  • its subsidiary HBIT get money transfer license
  • It is a previous step to offer crypto transactions

the acquaintance exchange Huobi Technologies said its brokerage subsidiary, HBIT, obtained a license to conduct foreign exchange and money transfer operations in the United States, which is a step on the way to offering cryptocurrency transactions.

HBIT He received a Money Services Business Registration License (MSB) of the US Financial Crimes Enforcement Bureau (FinCEN)according to a statement.

“This is a step forward in Huobi Technology’s compliance process, which creates a good compliance foundation for the company to conduct digital currency-related business in the United States in the future,” the statement says.

another branch of Huobi Technology, the fiduciary provider of digital assets Huobi Trust Companyobtained a fiduciary license from the Nevada Division of Financial Institutions in December 2020. The license allowed the company to offer custody and compliance services in the US.

In the future, Huobi Technology plans to provide US users with more digital asset services and “consolidate the momentum of international trade expansion”.

outside China

Huobi-Tech is the subsidiary of Huobi Group listed in Hong Kong, under which the exchange of the same name operates. The two companies share a common shareholder, Leon Li, and the brand, but are not formally affiliated. Last year, after China cracked down on cryptocurrencies in May, Huobi Group dissolved its office in the Asian giant and hastily moved its staff from China abroad.

See also  Bitcoin at the stake: developers propose methods to burn satoshis

It is worth remembering that Huobi Group entered the US in 2018 but left in December 2019 due to regulatory concerns. In February this year, co-founder Du Jun said that the company planned to re-enter the US market.

Likewise, Huobi announced in May this year that it bought the exchange Bitex to expand throughout Latin America.

Sources: Huobi statement, coindesk, File, Archive

version of DailyBitcoin

Picture of unsplash

WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

Leave a Comment

Your email address will not be published.