01-22-2019, 07:15 AM
Huobi Resumes Operations in Japan as a Fully Regulated Exchange
<img alt="Huobi Japan.jpg" height="529" src="https://fs.bitcoinmagazine.com/img/images/Huobi_Japan.width-800.jpg" width="800"> <br/>
<div class="block-paragraph"><div class="rich-text"><p>Huobi is back in Japan, this time as a fully regulated exchange under Japan's Financial Services Agency (FSA).</p><p>Following its <a href="https://bitcoinmagazine.com/articles/huobi-enters-japanese-market-bittrade-acquisition/">merger with BitTrade</a>, Huobi Japan Holding Ltd. is now among the first batch of 17 to receive registration under the FSA and is able to relaunch Huobi Japan.</p><p>Leon Li, Huobi Group founder and CEO, called the launch an “important milestone” in a statement, adding that the Japanese market remains important to the group and that working with its “regulators is a longstanding priority for Huobi Group.”</p><p>Japan's financial regulator had directed all cryptocurrency exchanges not registered as a licensed exchange with the agency to cease operations in 2017.</p><p>Huobi <a href="http://coinpost.jp/?p=34344">had left</a> at the time, hoping to merge with SBI Virtual Currency, but that deal <a href="http://www.sbigroup.co.jp/news/2018/0309_11020.html">fell through</a>.</p><p>Following <a href="https://bitcoinmagazine.com/articles/japanese-cryptocurrency-exchange-coincheck-accepts-monex-takeover-bid/">Coincheck's hack</a> in January 2018, the FSA had ramped up requirements for exchanges, with 160 applicants waiting in line for approval as of October 2018. Unable to get approval, Huobi acquired a majority stake in Japanese-licensed operator BitTrade, as it prepared to stage a comeback into the market.</p><p>At the moment, Huobi Japan will offer trading of bitcoin, ripple, ether, bitcoin cash, litecoin and monacoin, traded against the Japanese Yen. The exchange is also offering zero-fee transactions during the launch period.</p><p>Livio Weng, CEO of Huobi Global, told <i>Bitcoin Magazine</i> that Huobi Japan would draw on the expertise of the group to operate an exchange that offers better liquidity, with a strong focus on the safety and security of customer's funds.</p><p>“In addition to now offering our users a fully regulated and compliant place to trade digital assets, Huobi Japan also brings with it Huobi Group’s half-decade of experience in cryptocurrency and blockchain.”</p><p>Currently <a href="https://coinmarketcap.com/rankings/exchanges/">ranked</a> as the sixth largest crypto exchange platform in the world, Huobi Group was founded in China back in 2013. The company maintained its headquarters in Singapore after the Chinese government initiated a crackdown on domestic cryptocurrency exchanges in 2017.</p><p>Huobi also operates exchanges in <a href="https://bitcoinmagazine.com/articles/blockchain-asset-company-huobi-group-announces-expansion-canada/">Canada</a>, UAE, Australia and Brazil.</p></div></div>
<p><em>This article originally appeared on <a href="https://bitcoinmagazine.com">Bitcoin Magazine</a>.</em></p>
https://bitcoinmagazine.com/articles/huo...hange/Kind Regards R
<img alt="Huobi Japan.jpg" height="529" src="https://fs.bitcoinmagazine.com/img/images/Huobi_Japan.width-800.jpg" width="800"> <br/>
<div class="block-paragraph"><div class="rich-text"><p>Huobi is back in Japan, this time as a fully regulated exchange under Japan's Financial Services Agency (FSA).</p><p>Following its <a href="https://bitcoinmagazine.com/articles/huobi-enters-japanese-market-bittrade-acquisition/">merger with BitTrade</a>, Huobi Japan Holding Ltd. is now among the first batch of 17 to receive registration under the FSA and is able to relaunch Huobi Japan.</p><p>Leon Li, Huobi Group founder and CEO, called the launch an “important milestone” in a statement, adding that the Japanese market remains important to the group and that working with its “regulators is a longstanding priority for Huobi Group.”</p><p>Japan's financial regulator had directed all cryptocurrency exchanges not registered as a licensed exchange with the agency to cease operations in 2017.</p><p>Huobi <a href="http://coinpost.jp/?p=34344">had left</a> at the time, hoping to merge with SBI Virtual Currency, but that deal <a href="http://www.sbigroup.co.jp/news/2018/0309_11020.html">fell through</a>.</p><p>Following <a href="https://bitcoinmagazine.com/articles/japanese-cryptocurrency-exchange-coincheck-accepts-monex-takeover-bid/">Coincheck's hack</a> in January 2018, the FSA had ramped up requirements for exchanges, with 160 applicants waiting in line for approval as of October 2018. Unable to get approval, Huobi acquired a majority stake in Japanese-licensed operator BitTrade, as it prepared to stage a comeback into the market.</p><p>At the moment, Huobi Japan will offer trading of bitcoin, ripple, ether, bitcoin cash, litecoin and monacoin, traded against the Japanese Yen. The exchange is also offering zero-fee transactions during the launch period.</p><p>Livio Weng, CEO of Huobi Global, told <i>Bitcoin Magazine</i> that Huobi Japan would draw on the expertise of the group to operate an exchange that offers better liquidity, with a strong focus on the safety and security of customer's funds.</p><p>“In addition to now offering our users a fully regulated and compliant place to trade digital assets, Huobi Japan also brings with it Huobi Group’s half-decade of experience in cryptocurrency and blockchain.”</p><p>Currently <a href="https://coinmarketcap.com/rankings/exchanges/">ranked</a> as the sixth largest crypto exchange platform in the world, Huobi Group was founded in China back in 2013. The company maintained its headquarters in Singapore after the Chinese government initiated a crackdown on domestic cryptocurrency exchanges in 2017.</p><p>Huobi also operates exchanges in <a href="https://bitcoinmagazine.com/articles/blockchain-asset-company-huobi-group-announces-expansion-canada/">Canada</a>, UAE, Australia and Brazil.</p></div></div>
<p><em>This article originally appeared on <a href="https://bitcoinmagazine.com">Bitcoin Magazine</a>.</em></p>
https://bitcoinmagazine.com/articles/huo...hange/Kind Regards R