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Huobi Set to Make a Return to the US

Huobi Set to Make a Return to the US
  • Huobi Group announced its return to the United States with a new license that has been secured by local authorities.
  • The announcement came after Huobi Group ceased all its activities in the US in 2019.
  • The company made the announcement on December 22.

Huobi Group announced its return back to the United States. The company stated that it acquired a trust license from the State of Nevada.

The announcement came after Huobi Group ceased all its activities in the US way back from 2019.

The organization was seemingly interested in a Trust Company License within the country. One year after its abrupt departure at the end of 2019, the Group announced on December 22 that it received a trust license from Nevada’s regulators.

In the announcement, the company and its subsidiaries said they received a Trust Company License. This comes from the Financial Institution Division of the Department of Business and Industry.

Furthermore, the statement says that the license is to engage in the trust company business. This allows Huobi to work within the rules stated within Chapter 669 of Nevada. Also, Huobi will abide by the Revised Statutes and the rules and regulations according to it.

Huobi Group also stated that the newly procured license would enable the firm to offer custodial and compliance services in the US.

Finally, Huobi Trust added that they haven’t started providing any such trust services as to this announcement’s date. However, it advised shareholders and investors to exercise caution when dealing in the shares of the company.

Read Also: Huobi Launches Its Derivative Exchange Service in Malaysia

Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.