Huobi Group, apparently the company behind the huge Huobi crypto exchange He plans to return to the United States with a new license obtained from local regulators.
After ceasing business in the US in late 2019, it appears Huobi is keen to open a trust company in the country. Trust companies are responsible for managing the assets of a group of owners or investors. Grayscale’s trust company uses this structure to offer cryptocurrency in traditional markets.
According to an announcement made on December 22nd Huobi Technology Holdings, the Nevada-incorporated Huobi Trust Company, has obtained a trust company license from the Financial Institutions Division of the Nevada Department of Business and Industry.
Lan Jianzhong, CEO of Huobi, noted this Huobi Trust has not yet provided such trust services. “Shareholders and potential investors are advised to exercise caution when trading shares in the Company.”Jianzhong wrote in the ad.
Huobi did not immediately respond to Cointelegraph’s request for additional information about the development.
Huobi US or HBUS, the operator of the US-based crypto exchange Huobi, officially ceased operations in December 2019.. The move came shortly after Huobi Global announced that it would freeze all US customer accounts in mid-November. The exchange said that The event was due to issues related to the US regulatory ecosystem.
The stock exchange has made efforts in recent years to take advantage of the world’s new markets. In November 2020, Huobi Global, the Huobi Group’s premier crypto exchange based in Singapore, announced a new entity, Huobi Labuan, to launch trading services in Malaysia. . In August, Huobi announced a series of measures to expand its presence in Russia.
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