Seychelles' financial regulator, the Financial Services Authority (FSA), has publicly announced that Huobi exchange Global is not authorized to provide cryptocurrency trading services.
According to a statement released by the regulatoryAuthority on March 8, Huobi provides services to its customers without a license. The FCA is warning investors to be careful when dealing with this exchange.
Huobi has officially stated on several occasions that it is registered in the Seychelles and is governed by the relevant laws and regulations in that jurisdiction.
Huobi reiterated on Twitter that they have the required license. According to them, they are working closely with the regulator to resolve the situation.
Seychelles is very popular with crypto companies. It houses the headquarters of many cryptocurrency exchanges, including BitMEX, OKEx and KuCoin.
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