Seychelles Regulator Issues Investor Alert Over Crypto Exchange Huobi Global
Huobi told CoinDesk the entity is within the company group.
Mar 9, 2021 at 1:36 p.m. UTCUpdated Aug 19, 2021 at 7:51 a.m. UTC
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The Seychelles Financial Services Authority (FSA) alerted investors Monday over an entity called Huobi Global Limited.
- The Seychelles regulator believes the entity is linked to cryptocurrency exchange Huobi Global and is operating in the country despite never being licensed to do so.
- The International Business Company (IBC) Huobi Global Limited "appears to be affiliated" with the online trading platform of the same name, the Monday notice states.
- The FSA is encouraging investors to exercise caution when dealing with the company.
- Talking to CoinDesk, a Huobi representative said: "Huobi Global Limited is a Seychelles-registered company that is part of Huobi Group. It provides services to global customers in accordance with applicable laws."
- The person said the firm's legal team is drafting a detailed response to the FSA's notice.
- Huobi Global's legal statement on its exchange platform, last updated two years ago, makes multiple references to the laws and regulations of the Republic of Seychelles.
- CoinDesk reached out to the FSA for comment but had not received a reply by press time.
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