Huobi Tokenholders to Support Quarterly Token Burn

19.1% of voters preferred the current distribution model of tokens, and 80.99% chose “burning” tokens
06 December 2018   125

Huobi Cryptocurrency Exchange announced the results of the vote on the further fate of the HT tokens purchased. 80% of users voted for the "burning" of coins.

Previously, each quarter, Huobi used 20% of its revenue to purchase HT on the open market with a view to distributing it further to token holders. According to the exchange's blog, Huobi decided to revise this business model due to numerous requests from users and provided an opportunity for HT owners to decide the fate of the coins.

For three days, 5,010 users cast 72,079,205 votes (one vote was equal to one HT). 19.1% of voters preferred the current distribution model of tokens, and 80.99% chose “burning” tokens.

Within five days after the end of the voting, the Huobi team promised to publish an updated plan to purchase the HT.

Huobi to Launch Regulated Crypto Exchange

New entity will be focused on the institutional investors
07 December 2018   115

After obtaining a DLT license in Gibraltar, the Huobi cryptocurrency exchange revealed plans to launch a global infrastructure for clients.

According to Huobi representatives, the Gibraltar license gives the right to store and transfer cryptocurrency assets on behalf of clients all over the world. It will also simplify the exchange of fiat currencies for cryptoactives, according to a press release.

Our Gibraltar DLT license will allow us to open a fully-regulated exchange for our Global Institutional clients and retail clients alike, so this is a big win for Huobi and a very positive step forward for our global strategy. It's no secret that we think that well-designed regulatory regimes are a key part of the future for the cryptocurrency industry. Among other benefits, our DLT license will allow us to open doors to more institutional investors who were previously unable or unwilling to get involved in an unregulated sphere.

Lester Haoda Li

Head of Global Institutional Business, Huobi London

In a press release, Huobi also notes that Gibraltar was the first jurisdiction to introduce a regulatory framework for the provision of technology services in a distributed registry.