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Seychelles Regulator Issues Investor Alert Over Crypto Exchange Huobi Global
Huobi told CoinDesk the entity is within the company group.
The Seychelles Financial Services Authority (FSA) alerted investors Monday over an entity called Huobi Global Limited.
STORY CONTINUES BELOW
- The Seychelles regulator believes the entity is linked to cryptocurrency exchange Huobi Global and is operating in the country despite never being licensed to do so.
- The International Business Company (IBC) Huobi Global Limited "appears to be affiliated" with the online trading platform of the same name, the Monday notice states.
- The FSA is encouraging investors to exercise caution when dealing with the company.
- Talking to CoinDesk, a Huobi representative said: "Huobi Global Limited is a Seychelles-registered company that is part of Huobi Group. It provides services to global customers in accordance with applicable laws."
- The person said the firm's legal team is drafting a detailed response to the FSA's notice.
- Huobi Global's legal statement on its exchange platform, last updated two years ago, makes multiple references to the laws and regulations of the Republic of Seychelles.
- CoinDesk reached out to the FSA for comment but had not received a reply by press time.
See also: Huobi Said to Be Launching Bitcoin, Ether Funds After Being Granted Hong Kong License
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
Ian Allison
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
