Before officially entering the U.S. market ex-Chinese bitcoin exchange Huobi announced that its subsidiary, HBUS Inc. (focused exclusively on the American market), was registered with the Commission to combat financial crimes (FinCEN) as a financial services provider.
The CEO and founder of Huobi Group Li Ling (Li Lin) said that in may this year in San Francisco is scheduled to launch a platform for the development of new services, which will operate independently from cryptocurrency exchange Huobi Pro.
Among other things, Lin noted that registration with FinCEN does not negate other regulatory requirements of the United States. The company prepared for the Commission on securities and exchange Commission (SEC) and ready to follow her instructions:
«The problem is that currently in the United States at the Federal level there are no clear regulatory requirements for cryptocurrency platforms. Other platforms, such as Poloniex, working as financial services providers,» said Lee, referring to the American exchange, which was recently acquired by Circle.
Earlier this year, the head of the operations Department Huobi Robin Zhu (Robin Zhu) said that the way the exchange to the US market is one of the main stages of development of the company. It is impossible to disagree, after the Chinese government banned in its territory the work of crypto-currency exchanges, check-in at FinCEN marks the latest step on a blank.
The company plans was to go to South Korean cryptocurrency market, but now the question was postponed due to the situation that unfolded around new regulatory requirements for cryptocurrency exchanges in the country.
Also, it should be recalled, and the failure of the company Huobi Group on Japanese market in partnership with the Japanese SBI Group, which planned the opening of two new trading platforms in Japan — Japan Huobi and SBI Virtual Currency. A division of SBI Holdings, part of the SBI holding Group, withdrew from partnership with a Chinese company.