The administration of the Huobi currency exchange said that the platform had gone through all the necessary registration procedures in the US. In the US market, the exchange will be represented by HBUS Inc., which provides financial services. The company is based on the office funds which opened in San Francisco earlier this year. It will act as the central hub that coordinates the process of the company’s advancement in the American market.
Mr. Li Lin, the founder of Huobi Group, emphasized that the created financial platform will provide services to US users. Its launch is scheduled for May this year. At the same time, the US unit will be legally independent, there will be no connection with the existing Huobi Pro platform. It can be noted that the fact of the company’s registration in the American FinCEN is the last step Huobi takes with the purpose of business development. The impetus to this decision was the ban imposed by the Chinese government on trade in cryptocurrencies.
“At present, there are no clearly defined norms for crypto-exchanges in the US market. Other platforms operate in the same way as financial services companies,” Li Lin said.