Regulator issues a warning against Huobi Global

0

The archipelago country, Seychelles, announced that it has not taken any steps to regulate Huobi, one of the world’s largest cryptocurrency exchanges. Founded in China, Huobi moved its headquarters to Seychelles due to legal problems in the country.

Huobi Global, which has offices in countries such as Japan and Singapore, conducts its main activities from Seychelles. The Financial Services Authority (FSA), the country’s financial regulator, warned investors, explaining that Huobi is not under its control.

Huobi decided to change its center due to the cryptocurrency bans that China started to implement in September 2017.

Investors warned against Huobi “

Seychelles was hosting 26 different cryptocurrency exchanges at the end of December 2020. One of them, Huobi Global, acts in accordance with the laws of the country, as can be seen in the information shared on its site.

Seychelles Financial Services Authority announced that the company registered as Huobi Global Limited in the country has never been regulated so far. “We urge investors and the public to be wary of the services offered by these and other companies,” the FSA issued a statement for Huobi. gave his statement.

BitMEX, for which the US ordered the arrest for its founders in October 2020, was registered in the Seychelles for a long time. The Financial Services Authority followed up the incident after the decision taken by the USA.