Huobi is not afraid of regulation and opens a branch in London

Huobi is not afraid of regulation and opens a branch in London

Cryptocurrency exchange Huobi was close to Asia so that the management is planning to “storm” in London.

Senior Manager business development Huobi in Europe Chern Chung explained the choice of location by the adoption of a new exchange policy, which is aimed at expanding activities in Europe. Thus, London became the preferred location for the establishment of the office.

“Our studies have shown that London is the most active commercial scene in Europe. We also want to be here,” says Chung.

In the financial sector of London is one of the largest and most important centers in the world. Despite the uncertainty, which is called Brexit (British exit from the EU — approx.ed.) leading industry figures the UK still in the lead.

Huobi’s presence in London gives the exchange the ability to communicate with the global banks based in the city.

“Not Malta and Switzerland. Absolutely, that London, or rather Britain — the door through which we enter the European market”, — said Vice-President Huobi Group pang Hu. “Soon there will be our office.”

Huobi aims to conquer not only Europe. At the end of last month the stock exchange, which is used by 6.5 million people, started its operations in South Korea and is currently engaged in creating the platform in San Francisco, which, in the opinion of management, will be Central to cryptocurrency exchanger for the United States.

Huobi is not afraid of regulation in London

Huobi’s intention to open an office in London — an opportunity to prove to key players in Finance and bureaucracy that the exchange is a major player wishing to cooperate with regulators.

Headquarters in London “will demonstrate the commitment and determination Huobi to join the mainstream,” said Chung. “We are not afraid and do not avoid regulation.”

After an official warning by the Japanese regulators rival Huobi exchange Binance announced plans to close its office in Tokyo and move to Malta.

Originally Binance, and Huobi is based in China, but were forced to move abroad after the government has put them beyond the law. While Binance has moved its headquarters to Hong Kong, Huobi went to Singapore.

Cryptocurrency in an effort to attract business to their territory, some countries have created a crypto-friendly law. For example, Malta, Belarus, Liechtenstein, Switzerland and Gibraltar.

In the UK, we can say that the authorities have a reserved position regarding cryptocurrencies. So at the moment in the country there is some uncertainty about whether regulation support or restrict business.

Although Huobi and adamant about their choice, it is likely that leadership will have to rethink the location of the European office. Especially if the legislators of Westminster to turn to cryptocurrency back.

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