After its registration as a digital currency exchange provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC), crypto exchange Huobi is now greenlit to start offering fiat to cryptocurrency trading services in Australia.
During an interview, when the question was raised to confirm whether it will be able to offer full exchange services, Huobi initially suggested that it would be focused on providing OTC services once it has received its registration.
The exchange is still considering expanding — the American market being their next potential target.
In July 2022, Huobi established HBIT, its American subsidiary. The company hopes to introduce exchange services in the future and has received a license for a money services business.
In June 2022, Huobi also secured New Zealand and the United Arab Emirates licenses. The exchange has been granted exchange provisional approval by Dubai’s Virtual Assets Regulatory Authority (VARA) to start offering its services there.
As part of the licensing procedure, Huobi’s local entity will offer a full range of cryptocurrency exchange products and services operating under a test-adapt-scale model.
Within the same month, the company struggled in Thailand. After failing to comply with Thai Securities and Exchange Commission regulations, it shuttered in the end.
In late 2021, following China’s recent cryptocurrency usage crackdown, Huobi is forced to relocate to Gibraltar. Cryptocurrency businesses and service providers have become interested in The British Overseas Territory.
