Huobi Reaffirms Commitment to Regulatory Compliance as Digital Assets Approach Mainstream Adoption
24 Mar, 2021, 19:37 ET
LONDON, March 24, 2021 /PRNewswire/ -- Huobi Group, the world's leading blockchain company, recently reaffirmed its commitment to regulatory compliance during the GDF Asia 2021 Conference held online and hosted by Global Digital Finance Ltd. Mariah Zhao, COO of Huobi Technology, and Elain Sun, Compliance Director of Huobi Technology, participated in discussions on the importance of regulatory compliance and spoke about Huobi's global compliance strategy.
As Bitcoin and other digital assets begin to gain recognition worldwide, traditional institutions are beginning to embrace digital assets and even invest in digital asset-related infrastructure. However, the boom in interest has also brought to light concerns regarding the high volatility of the market and the difficulties in achieving regulatory compliance.
Speaking at the conference, Mariah Zhao commented that there is growing demand from traditional asset managers to add digital assets such as bitcoin to its portfolio, and that more and more traditional capital have started to allocate to entry-level digital asset products as a way to understand this emerging asset class. However, Zhao cautioned that while digital asset adoption is accelerating globally, the high volatility and regulatory uncertainty of digital assets still prevent traditional institutions from entering the market on a large scale.
To address these concerns, Huobi has adopted a compliance-focused approach which has helped it provide millions of users globally with safe, secure and regulated trading services. To navigate the evolving market and ensure the security of all assets under Huobi, the company has implemented a global compliance strategy across several countries and regions. In Hong Kong, Huobi acquired License No. 4 (for advising on securities), License No. 9 (for providing asset management), and the Hong Kong Trust and Company Service Provider License. Huobi also acquired the Nevada Trust License in December 2020. Today, Huobi Group possesses licenses to operate legally in Japan, South Korea, Thailand, Gibraltar, and more regions.
"If regulatory compliance is the future of digital assets, we need all industry players to act in a compliant manner," said Elaine Sun, Compliance Director of Huobi Technology. "As one of the leaders in this emerging industry, we see it as our responsibility to pave that path toward compliance for others by fully embracing digital asset regulations."
Most recently, Huobi Capital Management, a wholly-owned subsidiary of HKSE-listed Huobi Technology, received regulatory approval to launch three regulated funds, a BTC tracker fund, an ETH tracker fund, and a multi-strategy digital asset fund, all consisting entirely of virtual assets.
Moving forward, Huobi plans to continue evolving its operations to meet the requirements of the regulatory environment as part of its global expansion strategy. Sun added, "The next stage of the digital asset industry will require all of us to build trust with the market and ensure the safety of users and their assets through regulatory compliance. We encourage others to invest in thor regulatory efforts so we can collectively propel the industry forward."
About Huobi Group
Huobi Group is the world's leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by liquidity and real-trading volume. Trusted by users over 170 countries, the Huobi platform is dedicated to improving the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, cryptocurrency finance infrastructure solutions, education, data and research, social welfare, investment and incubation, and many more. For more information, visit https://blog.hbg.com/.
SOURCE Huobi Technology
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