Huob toi Register With FinCEN on the Eve of US Launch

For the first time, Huobi announced plans to open am office in the US in early February
26 March 2018   457

The American branch of the Huobi currency exchange has registered in the US Financial Crimes Network as a "financial services provider", CoinDesk reports.

For the first time, Huobi, the world's largest Chinese site, announced plans to open a representative office in the US in early February.

Subsequently, Li Lin, CEO and founder of Huobi Group, confirmed that the company intends to launch a crypto-exchange platform aimed primarily at American investors and operating separately from Huobi Pro.

The issue is, currently there is no clear regulatory requirement for crypto-to-crypto trading platforms from the U.S. at the federal level. Other platforms like Poloniex also operate in a similar way with registration as a money service business.
 

Li Lin
CEO and founder, Huobi Group

At the same time, Lee added that the only registration in the US financial department does not solve all the potential difficulties with regulators in the US.

Earlier SBI Holdings, a financial services unit of the Japanese SBI Group, refused to partner with the Chinese currency exchange Huobi, within the framework of which it was planned to open two new trading platforms in Japan - Huobi Japan and SBI Virtual Currency.

Huobi to Acquire Public Firm for $70M

Company took another step forward to enter the stock exchange through a reverse takeover procedure
30 August 2018   391

Huobi Global Limited completed the acquisition of Hong Kong's Pantronics Holdings Limited and took a step closer to enter the stock exchange through a reverse takeover procedure. This is stated in the joint statement of enterprises.

It is reported that the Huobi acquired about 199 million shares of the company through subsidiaries of Huobi Capital and Huobi Universal.

So, at the moment Huobi owns 66.26% of Pantronics Holdings. The average price of the share in the transaction was HK $ 2.72 ($ 0.35), and the total value of the stake is about $ 70 million.

Note that earlier Huobi was going to take over most of the shares of Pantronics Holdings. It was assumed that the chairman of Huobi Group Li Lin will become the owner of 73.73% stake in Pantronics.

Reverse takeover procedure assumes that a non-public company acquires a public company and automatically enters the stock exchange.

Earlier, the bitcoin-exchange Huobi Global announced the launch of a new platform designed for automatic listing of tokens.