April 2, 2018
In a sign that the crypto sector is beginning to focus on staying on the right side of the authorities, the United States-based operations of the Huobi cryptocurrency exchange has registered in the category of being a ‘money services business’ with the US government. This announcement comes as they prepare to expand their crypto-to-crypto trading in the near future. Huobi is one of the largest crypto exchanges based in China, and they were first started back in 2013.
As there has been a lot of uncertainty in China with the crypto sector, many companies are looking overseas to expand and safeguard their operations. The United States Financial Crimes Enforcement Network (FinCEN) updated their database on March 21, 2018, and it showcased that HBUS Inc. is now registered with the regulatory body.
It was in January 2018 that the exchange announced they were opening offices in San Francisco, with this being their planned hub for the expansion in the US market.