Huobi Announces Plans To Return To The US
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Huobi group is getting ready to return to the United States with a new license that has been secured by local regulators.
At the end of 2019, the Group ceased all operations in the United States with the organisation seemingly interested in opening a trust company within the country. This came after Huobi global revealed that it will be freezing all client accounts based in the United States by the middle of November 2019. They said at the time that the event was caused by issues from higher up in the regulation ladder in the US.
According to an announcement published earlier today on the 22nd of December by Huobi technology holdings, the firm has received a trust company license from the financial institution's division of the Department of business and industry in Nevada.
The announcement states:
The board (the “Board”) of directors (the “Director(s)”) of the Company is pleased to announce
that Huobi Trust Company (the “Huobi Trust”), a company incorporated in the State of Nevada,
the United States and an indirectly wholly owned subsidiary of the Company, was recently
issued with a Trust Company License by the Financial Institutions Division of the Department
of Business and Industry in Nevada, the United States, to engage in the trust company business
within the meaning of Chapter 669 of the Nevada Revised Statutes and the rules and regulations thereunder.
An executive director at Huobi, Lan Jianzhong has highlighted that the trust has not yet started providing any services trust-related. In the announcement, Jianzhong said, “shareholders and potential investors are advised to exercise caution when dealing in the shares of the company.“
It seems that the platform has been putting a lot of effort into moving into new markets all over the world over the past few years. Just last month, Huobi global announced a new entity known as Huobi Labuan which would help launch Malaysian trading services.