Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Huobi Resumes Operations in Japan as a Fully Regulated Exchange

Bitcoin Magazine Friday, 18 January 2019
Huobi Resumes Operations in Japan as a Fully Regulated ExchangeHuobi is back in Japan, this time as a fully regulated exchange under Japan's Financial Services Agency (FSA).

Following its merger with BitTrade, Huobi Japan Holding Ltd. is now among the first batch of 17 to receive registration under the FSA and is able to relaunch Huobi Japan.

Leon Li, Huobi Group founder and CEO, called the launch an “important milestone” in a statement, adding that the Japanese market remains important to the group and that working with its “regulators is a longstanding priority for Huobi Group.”

Japan's financial regulator had directed all cryptocurrency exchanges not registered as a licensed exchange with the agency to cease operations in 2017.

Huobi had left at the time, hoping to merge with SBI Virtual Currency, but that deal fell through.

Following Coincheck's hack in January 2018, the FSA had ramped up requirements for exchanges, with 160 applicants waiting in line for approval as of October 2018. Unable to get approval, Huobi acquired a majority stake in Japanese-licensed operator BitTrade, as it prepared to stage a comeback into the market.

At the moment, Huobi Japan will offer trading of bitcoin, ripple, ether, bitcoin cash, litecoin and monacoin, traded against the Japanese Yen. The exchange is also offering zero-fee transactions during the launch period.

Livio Weng, CEO of Huobi Global, told Bitcoin Magazine that Huobi Japan would draw on the expertise of the group to operate an exchange that offers better liquidity, with a strong focus on the safety and security of customer's funds.

“In addition to now offering our users a fully regulated and compliant place to trade digital assets, Huobi Japan also brings with it Huobi Group’s half-decade of experience in cryptocurrency and blockchain.”

Currently ranked as the sixth largest crypto exchange platform in the world, Huobi Group was founded in China back in 2013. The company maintained its headquarters in Singapore after the Chinese government initiated a crackdown on domestic cryptocurrency exchanges in 2017.

Huobi also operates exchanges in Canada, UAE, Australia and Brazil.

This article originally appeared on Bitcoin Magazine.
Credit: TomoNews US - Published < > Embed
News video: US, UK hold rare joint naval drills in South China Sea

▶ US, UK hold rare joint naval drills in South China Sea 02:19

SOUTH CHINA SEA — Reuters reports that the United States and Britain held their first joint drills in the South China Sea since Beijing built island bases in the disputed waters. According to a US Navy press release, the Arleigh-Burke guided missile destroyer USS McCampbell and the Royal Navy...

You Might Like

Other recent news and videos in Cryptocurrencies:

Cryptocurrencies News
‘Already Live’: Signature Bank Is Moving Millions on a JPMorgan-Like Private, Dollar-Backed Cryptocurrency
Coinbase Exchange Users Can Now Withdraw Bitcoin Cash Fork BSV
El Chapo Will Likely Serve a More Lenient Jail Sentence Than Ross Ulbricht
Ripple Introduces XRP Ledger Version 1.2.0 With Upgrade Deadline of Feb. 27
This 3D printed robot taught itself to ice skate [Video]This 3D printed robot taught itself to ice skate

Ice skating is just one of this robot's many talents.

Credit: Mashable Studio     Duration: 00:56Published

What JPMorgan's Cryptocurrency Launch Means for the Markets [Video]What JPMorgan's Cryptocurrency Launch Means for the Markets

Move over, bitcoin. JPMorgan Chase will issue the first ever cryptocurrency by a U.S. bank, marking a significant change in tack for CEO Jamie Dimon, who once threatened to fire any employee he found..

Credit: The Street     Duration: 02:00Published

Tweets about this

Other recent news in Markets

The Love Block: Cryptocurrency Promises Something For Everyone On VALENTINE’s DayJPMORGAN CHASE to Launch ‘JPM Coin,’ Using Crypto to Speed Settlements
Stock Market Today: Investors Show Some Love for Cisco, but Not So Much for Coca-ColaAMAZON Backs Out of New York HQ2: 3 Lessons To Be Learned
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest