Huobi Global, a blockchain asset financial services provider, reaffirmed its commitment to regulatory compliance during the GDF Asia 2021 Conference held online recently. Global Digital Finance Ltd. hosted the conference, and discussions were held on the importance of regulatory compliance.
Mariah Zhao, COO of Huobi Technology, and Elain Sun, Compliance Director of Huobi Technology, participated in these discussions and spoke about Huobi’s global compliance strategy.
Crypto Boom Brings Regulatory Compliance Difficulties To Light
Bitcoin and other crypto-assets have gained a lot of recognition across the globe. This has led to traditional institutions investing in digital assets or digital asset-related infrastructure. However, concerns were raised regarding the difficulties in achieving regulatory compliance and the market’s high volatility.
Mariah Zhao stated at the conference that there is growing demand from traditional asset managers to add crypto assets such as Bitcoin to their portfolios. Institutions have begun to allocate traditional capital to entry-level digital asset products to understand this emerging asset class.
However, the high volatility and regulatory uncertainty of crypto assets prevent these institutions from investing in the market on a large scale.
Huobi Addresses Compliance Concerns
Huobi has adopted a compliance-focused approach providing millions of users globally with regulated trading services that are safe and secure. The company applied a global compliance strategy to ensure the security of all assets under Huobi and navigate the accelerating market of crypto assets. This compliance strategy is implemented across several countries and regions.
Huobi has acquired License No. 4 (for advising on securities), License No. 9 (for providing asset management), and the Hong Kong Trust and Company Service Provider License in Hong kong. They acquired the Nevada Trust License in December 2020, and as of today, they possess the license to operate legally in Japan, South Korea, Thailand, and Gibraltar, among others.
Regulatory Compliance Should Be Adopted By Everybody, Says Huobi
Elaine Sun, Compliance Director of Huobi Technology stated, saying,
“If regulatory compliance is the future of digital assets, we need all industry players to act in a compliant manner. As one of the leaders in this emerging industry, we see it as our responsibility to pave that path toward compliance for others by fully embracing digital asset regulations.”
A wholly-owned subsidiary of HKSE-listed Huobi Technology, Huobi Capital Management, recently received approval to launch three regulated funds; a BTC tracker fund, an ETH tracker fund, and a multi-strategy digital asset fund.
As part of its global expansion strategy, Huobi plans to continue evolving its operations to meet the regulatory environment’s requirements. Sun further added,
“The next stage of the digital asset industry will require all of us to build trust with the market and ensure the safety of users and their assets through regulatory compliance. We encourage others to invest in thor regulatory efforts so we can collectively propel the industry forward.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.