Huobi Group, an operator of a crypto exchange, says it has received regulatory approval in two new jurisdictions: Dubai and New Zealand.
In Dubai, Huobi obtained a DIFC Innovation License. In New Zealand, Huobi has been added to the Financial Services Provider Register. Huobi said these developments represent significant milestones in the group’s compliant growth.
The DIFC Innovation License provides benefits such as access to preferential treatment for technology research and developments, capital repatriation, and taxes.
The registration on New Zealand’s Financial Services Provider Register (FSPR) represents Huobi Group’s first step towards expanding its cryptocurrency trading business in the country, as all exchanges have to register on the platform before offering services to local users.
With the registration, Huobi will be able to operate a regulated foreign currency exchange and money or value transfer services in New Zealand, which supports crypto OTC trading services.
Lily Zhang, Huobi Group CFO, said they attach a great deal of importance to regulation and compliance:
“…the two new licenses not only mark the major milestones for our global expansion but also reflect our determination to provide safe, regulated and professional services to more users.”
As of today, Huobi Group reports that it has obtained licenses for various cryptocurrency-related services in a number of different jurisdictions, including South Korea, Japan, Gibraltar, and others.
Zhang added that meeting compliance and regulatory requirements is key to their growth in the industry.
Huobi is currently the 8th largest crypto exchange in the world by trading volume.
