Huobi Group is moving to Gibraltar following China crackdown

[waybesuricata]

Huobi Gibraltar has already secured the necessary licenses from local authorities.
Huobi Group, a Bitcoin (BTC) technology firm established in 2013, is relocating its spot-trading business to Gibraltar as a precautionary measure following China’s cryptocurrency clampdown.

According to a report by Bloomberg, the Gibraltar Financial Services Commission has authorized Huobi to begin moving its spot-trading operations to affiliate Huobi Technology (Gibraltar) Co. As a result, Huobi Group may provide spot trading services through Huobi Gibraltar, a centralized digital asset exchange that has been authoritatively regulated by the GFSC. Jun Du, CEO of Huobi Group, stated:

“The worldwide cryptocurrency sector is moving toward regulated growth. [...] The business must recognize the significance of aligning its activities with the trend.”
Several cryptocurrency enterprises have withdrawn from China as a result of the country’s strict ban on crypto. During a shareholders meeting on Sept. 24, Huobi’s board of directors voted to wind down operations and leave China.


Source and continuation of news: https://cointelegraph.com/news/huobi-group-is-moving-to-gibraltar-following-china-crackdown