Seychelles Regulator Issues Investor Alert Over Crypto Exchange Huobi Global

Huobi told CoinDesk the entity is within the company group.

AccessTimeIconMar 9, 2021 at 1:36 p.m. UTC
Updated Sep 14, 2021 at 12:23 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The Seychelles Financial Services Authority (FSA) alerted investors Monday over an entity called Huobi Global Limited.

  • 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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.