Huobi Gains Approval to Operate in New Zealand

New Zealand authorities have added the Huobi bitcoin exchange to the Financial Services Provider Register.

.@HuobiGlobal has successfully obtained a #registration on New Zealand’s Financial Services Provider Register (FSPR)! This represents our first step towards expanding our #cryptocurrency #trading business in the country. pic.twitter.com/pHWoAUUqRc

— Huobi (@HuobiGlobal) June 17, 2022

“This represents our first step toward expanding our cryptocurrency trading business in the country,” the company said.

According to CoinDesk, once registered on the register, Huobi will be able to offer its services in New Zealand.

The exchange also announced that it has obtained the so-called ‘Innovation License’ in Dubai. It is aimed at startups, entrepreneurs and technology firms to support innovation and scale up the business.

.@HuobiGlobal obtained a DIFC Innovation License, a license for #innovative #technology companies in #Dubai! Benefits entail access to a thriving #tech ecosystem and preferential treatment for currency exchange, capital repatriation, and taxes. pic.twitter.com/sQBUABT3Pz

— Huobi (@HuobiGlobal) June 17, 2022

In November 2021, Huobi chose Singapore as the location for its headquarters. In the same month, the company’s subsidiary received a license from the Gibraltar regulator to launch spot trading.

Prior to this, the exchange stopped registering new users in Mainland China after another wave of crackdowns on the cryptocurrency industry. According to media reports, this decision at Huobi was taken before tighter regulation in China.

In February 2022, the exchange announced its return to the U.S. market after two years of absence.

In June, operator Huobi announced the closure of its subsidiary in Thailand after the license was revoked by the Ministry of Finance.

In March, approval to provide cryptocurrency services in Dubai was granted to Binance.

The UAE granted a similar license to the bitcoin exchange FTX.

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