Huobi accused of Illegal operation in the Republic of Seychelles

The financial authority of Seychelles Financial Services has posited in form of official warning, that a company that seems to be affiliated with a known cryptocurrency exchange Huobi exchange is not registered in the country

Huobi, which is one of the topmost crypto exchange has a good reputation, late last year eye brows were raised after a media in China reported on 17th November, that Huobi intends to buy Korea’s largest exchange, Bithumb and also that of Japan’s largest exchange, Bitflyer. However, the aforementioned attempt was stalled by the probe of the founder of Huobi, in the person of Leon Li, though still unconfirmed because no details yet.

Also, tow days after the report, it was equally announced that the co-founder of Huobi in the person of Dujun as moved back to the company after absenting himself from the company for three years and he opined that he came back to focus on other projects.

Also, on the premise of the above stated information, it has been said that it is in the public glare that the Seychelles FSA stated that an Huobi global which is an international business seems to be affiliated with Huobi global, which is an online trading platform for virtual assets and operates through the website.

Seychelles FSA, however , warned the public that the IBC is not registered and therefore bereft of any licence given by FSA and to take up such activity and FSA has neither in the past nor presently regulated same.

However, the statement of Huobi on the accusation is that they provide asset management services and digital asset transaction ad which they do to the greatest extent possible, without contravening any laws and regulations of the Republic of Seychelles.






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