Huobi Subsidiary Receives FinCEN License

HBIT Inc, a subsidiary of the Huobi bitcoin exchange, has received a license for financial activities fromFinCEN.About thissays in a press release.

“[…] this will create the basis for doing business related to cryptocurrencies in the United States in the future as part of the strategic goals of globalization and compliance,” the company noted.

The exchange's Hong Kong divisions have also received asset management and securities advisory licenses from the local regulator, according to the release.

Huobi is one of the largest spot digital asset trading platforms, with over $1 billion in daily trading volume, according to CoinGecko.

In June, the bitcoin exchange announced that it had been listed as a financial services provider in New Zealand and received a so-called “innovation license” in Dubai.

In the same month, operator Huobi announced that it would be closing its division in Thailand after the license was revoked by the Ministry of Finance.

In February, the company announced a return to the US market after a two-year absence.

Earlier, subsidiary Huobi reported that the Gibraltar regulator approved the transfer of spot trading services from the Seychelles to the British Overseas Territory.

Recall that at the end of June it became known about the plans of the bitcoin exchange to reduce the staff by 30% against the backdrop of a sharp drop in income after the ban of users from China in September 2021.

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