Huobi Gains Money Services Business Approval for USA

Huobi Group has received approval to operate as a Money Services Business (MSB) in the United States, according to a statement by the company. Huobi is a public firm with its shares trading in Hong Kong (HKEX:Huobi Tech). Huobi Group was founded in 2013 and currently operates across more than 20 markets in the world with various crypto services including a crypto exchange.

 

Huobi Group co-founder Du Jun, posted on Twitter, “Proud to announce that Huobi has received approval from FinCEN to operate as a Money Services Business (MSB) in the United States. Stay tuned for what’s next!”

Huobi reports that the MSB registration is under HBCoin Limited, a Delaware-based entity of Huobi Group. Administered by the Financial Crimes Enforcement Network (FinCEN) under the U.S. Department of Treasury.

The MSB registration enables Huobi to operate as a dealer in foreign exchange and money transmitter in all of the states and territories within the United States. Individual states may however require additional approval processes for the provision of certain cryptocurrency-related services.

 

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