Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

Seychelles Regulator: Huobi Global Limited Isn’t Licensed Here

2 min read

Seychelles Regulator: Huobi Global Limited Isn’t Licensed Here

The Seychelles’ Financial Services Authority (FSA) yesterday announced that Huobi Global Limited does not hold a license to undertake business activity in its jurisdiction. 

Huobi Global Limited is defined by Seychelles’ legislation as an international business company. According to the statement released yesterday, the company “appears to be affiliated” with Huobi Global, an online platform for trading virtual assets. The regulator came to this conclusion based on information available in the public domain. 

Bitcoin Reclaims $1 Trillion As Crypto Hits 2-Weekly Highs

The announcement is accompanied by a warning for the public. “The FSA strongly urges investors and members of the public to exercise caution in respect to the services offered by the above mentioned IBC and any other company providing such services.” 

The Seychelles: a crypto trading hub

The Seychelles play host to a number of crypto’s largest exchanges.

BitMEX is one such example. The exchange has recently been embroiled in legal disputes. In October 2020, the US Commodity Futures Trading Commission charged BitMEX with money laundering and operating illegally in the US. According to court documents shared with The Block, BitMEX CEO Arthur Hayes could surrender to US authorities this April.

IRS Is ‘Raising the Stakes’ on Crypto With Operation Hidden Treasure: Experts

Another crypto exchange that does business in the Seychelles is OKEx. The exchange operates from the Seychelles, and—while it’s based in Malta—if you are not Maltese or Italian, the company uses a different Terms of Service agreement so the crypto you buy is held by Aux Cayes, a company based in the Seychelles.

In addition, Binance set up Binance Investments in the Seychelles in 2019.

Source

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

Leave a Reply

Your email address will not be published. Required fields are marked *