Crypto exchange Huobi can start offering cryptocurrency exchange services in Australia after registering as a digital currency exchange provider with the Australian Transaction Analysis and Reporting Center (AUSTRAC) on August 1. This means that Huobi can now offer cryptocurrency trading services in the country. .
Cointelegraph has reached out to Huobi to confirm if they will be able to offer the full exchange services. The company initially indicated that it would focus on providing OTC services after receiving its registration.
The exchange continues to look at expanding its horizons and is also looking to enter the US market. Huobi set up a US subsidiary, HBIT, in July 2022. It has obtained a Money Services Business license, and the company hopes to launch exchange services in the future.
Huobi also registered licenses in New Zealand and the United Arab Emirates in June 2022. The Dubai Virtual Asset Regulatory Authority (VARA) has given the exchange provisional approval to begin offering its services in the country. Huobi’s local entity will offer a full range of cryptocurrency exchange products and services, which will operate on an adaptive test scale model as part of the licensing process.
Related Topics: Huobi’s US Expansion Approaches After It Gets FinCEN License
The company faced its struggles in Thailand during the same month, and eventually closed down after it failed to comply with the regulations of the Thai Securities and Exchange Commission.
Huobi was forced to move to Gibraltar in late 2021 after China’s recent crackdown on cryptocurrency. The British Overseas Territory has become an attractive location for cryptocurrency companies and service providers.
