QuadrigaCX to be Beyond Canadian Watchdog View

As explained, exchange hadn't trade in securities or derivatives so it shouldn't be controlled by the regulator
08 February 2019   903

The British Columbia Securities Commission reported that the QuadrigaCX cryptocurrency exchange, which owed millions of dollars to its customers, did not fall under its jurisdiction.

In a conversation with Reuters, a spokesperson for the department, Brian Kladko, explained that QuadrigaCX did not trade in securities or derivatives, and therefore should not be controlled by the regulator.

The CSA continues to urge Canadians to be cautious when considering buying crypto-assets through trading platforms.
 

Ilana Kelemen
Spokeswoman, CSA

At the same time, Canadian regulators were aware of QuadrigaCX activities since 2017, however, based on the information they had, no action was required on their part.

This week, the court agreed to provide QuadrigaCX 30-day protection against creditors' claims, while representatives of the exchange and the auditing company EY will try to restore, presumably, the assets blocked on the cold wallets of the exchange after the death of its owner

Huobi to Launch Brokerage Platform

The service, aimed at institutional investors, is  available to investors in almost all regions where Huobi is present, except China
22 January 2020   136

Huobi cryptocurrency exchange opens a brokerage platform focused on the needs of institutional investors.

The announcement of the Huobi Brokerage platform took place this Tuesday at the World Economic Forum in Davos. The service is already available to investors in almost all regions where Huobi is present, with the exception of China.

The brokerage platform is the first product of the Global Institutional Business (GIB) division, which will focus on serving institutional clients. According to the publication, from the third quarter of 2019, Huobi recorded an increase in the institutional client base by 400% - it was possible to attract 1,700 investors.

GIB currently has offices in London, Singapore, and Hong Kong and will be a top priority for Huobi in 2020 as it continues to expand globally.

 

Huobi

 

Like the American brokerage service Tagomi, Huobi Brokerage provides the ability to execute applications at the best prices by forwarding them to several trading platforms, including third-party exchanges and over-the-counter services. Huobi is known to have over-the-counter partners in Chicago Jump Trading and Hong Kong-based Alameda Research.

In addition, the platform provides services for block trading, individual financing and other solutions for traders interested in concluding large transactions. Bitcoin, USDT, HUSD, PAX, TUSD and USDC are available for trading blocks. By the end of the first quarter, ETH, EOS, BCH, LTC and XRP will be added to them.

2019 brought the first wave of institutional interest but 2020 is when we expect to see the industry mature with growing demand. As we enter the next phase of crypto, Huobi staking an active role in setting new standards for institutional and retail clients alike.

Ciara Sun

Huobi Group vice president