Huobi Group, one of the largest cryptocurrency exchanges in the world, has just announced that it will be moving its operations to Gibraltar.
The Huobi Group is a global investment company that provides professional financial services. Huobi Group will be moving its operations to Gibraltar, an overseas territory of the United Kingdom located in the south of Spain. The company announced this recently after it signed an agreement with the territory’s government.
This is a huge step for Huobi who has been examining potential countries for relocation since the Chinese government banned all ICOs in the country. Huobi has made it clear that they are looking for a place to relocate to where they can continue to operate freely and openly.
Huobi is a leading global digital asset exchange market. It has been growing exponentially since its inception in 2013 and it’s worth noting that they offer a variety of digital currency pairs with the most popular being ETH. Moreover, they have a vast selection of markets with over 250 active markets and a volume of $1 billion per day.
Gibraltar is one of the best choices because it is an established crypto-friendly jurisdiction with an excellent legal system. The move will make Huobi’s operations more efficient and less complicated by relocating their head office and exchange platform there.
Huobi no longer accepts Chinese users
Huobi exchange recently stopped accepting new users from China. The company released a statement on their website saying that the decision was made because of “recent regulatory changes” in China. Huobi also stated that they would be opening up trading for all their customers in the coming days and that they would work hard to resume service for Chinese customers as soon as possible.