Seychelles FSA Issues Warning Against Huobi Crypto Exchange

Seychelles financial regulator, the FSA has warned against Huobi Global crypto exchange, saying it is not  authorized to provide such services in the country.

March 9, 2021 | AtoZ MarketsHuobi, one of the market’s most-popular crypto exchanges, has not received a license to operate in the Seychelles. This is stated in the warning from the Financial Services Authority of the Republic (FSA).

FSA Says Huobi Global Is Unauthorized

The regulator pointed to a link between Huobi Global Limited and Seychelles-based Huobi Global. This information is published on the website of the trading platform, which also contains links to local legislation.

“The aforementioned company does not have an FSA license to conduct this type of activity. Consequently, the organization is not regulated by the FSA and has not been regulated in the past,” the statement said.

The authorities urged investors to exercise caution with Huobi's services.

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Read also: Huobi Secures License to Launch Three Cryptocurrency Funds in Hong Kong

In 2018, the platform received a DLT license in Gibraltar. In December 2020, the government of the US state of Nevada authorized a subsidiary of Huobi to provide trust services.

Recall that in February 2020, the financial regulator of Malta announced that the Bitcoin exchange Binance had no license to operate in the jurisdiction.

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