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Amid global expansion, Huobi Group moves crypto spot trading from Seychelles to Gibraltar
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ambcrypto.comAccording to a press release dates 8 November, 2021, Huobi Group has announced that it is moving its spot trading business from Seychelles to Gibraltar.
The company stated that the migration has commenced after approval from Gibraltar Financial Services Commission (GFSC). Moving forward, spot trading will take place through the local entity, Huobi Gibraltar, which is distributed ledger technology (DLT) license compliant.
The licensing framework was first introduced in 2018 “for storing or transmitting value belonging to others”. Under Financial Services Act 2019, Huobi’s entity will be authorized to use DLT for the ‘operation of a secondary market venue for trading virtual assets; and the provision of broker/dealer services.’
Huobi Group
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