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Seychelles Regulator Issues Investor Alert Over Crypto Exchange Huobi Global

Huobi told CoinDesk the entity is within the company group.

By Jamie Crawley, Ian Allison
Updated Sep 14, 2021, 12:23 p.m. Published Mar 9, 2021, 1:36 p.m.

The Seychelles Financial Services Authority (FSA) alerted investors Monday over an entity called Huobi Global Limited.

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  • The Seychelles regulator believes the entity is linked to cryptocurrency exchange Huobi Global and is operating in the country despite never being licensed to do so.
  • The International Business Company (IBC) Huobi Global Limited "appears to be affiliated" with the online trading platform of the same name, the Monday notice states.
  • The FSA is encouraging investors to exercise caution when dealing with the company.
  • Talking to CoinDesk, a Huobi representative said: "Huobi Global Limited is a Seychelles-registered company that is part of Huobi Group. It provides services to global customers in accordance with applicable laws."
  • The person said the firm's legal team is drafting a detailed response to the FSA's notice.
  • Huobi Global's legal statement on its exchange platform, last updated two years ago, makes multiple references to the laws and regulations of the Republic of Seychelles.
  • CoinDesk reached out to the FSA for comment but had not received a reply by press time.

See also: Huobi Said to Be Launching Bitcoin, Ether Funds After Being Granted Hong Kong License

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