Huobi Is Approved As An Exchange Service In Australia

Crypto exchange Huobi can begin offering cryptocurrency exchange services in Australia after its registration as a digital currency exchange provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC) on Aug. 1. This means Huobi can now offer fiat to cryptocurrency trading services in the country.

After getting its registration, the company initially stated that it will concentrate on offering over-the-counter services.

The exchange is still considering expanding its horizons and is also considering entering the American market. In July 2022, Huobi established its American affiliate, HBIT. The company hopes to introduce exchange services in the future and has secured a license for a money services business.

Huobi also obtained licenses in New Zealand and the United Arab Emirates

In June 2022, Huobi also obtained licenses in New Zealand and the United Arab Emirates. The exchange has been given preliminary authorisation by Dubai’s Virtual Assets Regulatory Authority (VARA) to start providing its services there. As part of the licensing procedure, Huobi’s local organization will provide a full range of cryptocurrency exchange products and services and will run on a test-adapt-scale approach.

The business struggled in Thailand during the same month, and it ultimately shut down for violating rules set by the Thai Securities and Exchange Commission.

Late in 2021, as a result of the most recent Chinese crackdown on cryptocurrency use in the nation, Huobi was compelled to migrate to Gibraltar. Businesses and service providers interested in the bitcoin industry are increasingly drawn to the British Overseas Territory.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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