Cryptocurrency exchange Huobi has received approval from the Australian regulator.
Australia’s financial regulator has approved cryptocurrency exchange Huobi to operate in the country. The company will thus have the opportunity to expand its operations to Australia.
Huobi, a China-based cryptocurrency exchange, had to move its operations abroad due to China’s strict stance on the crypto industry.
Green Light for Huobi
The approval by the Australian Transaction Reports and Analysis Center (AUSTRAC) paved the way for the cryptocurrency exchange to operate in the country.
Huobi also plans to offer OTC services in the country as a next step. Lily Zhang, the company’s CFO, said:
“As we believe that we can grow in the sector with the principle of providing professional and secure services to our users, we have always made security and compliance one of our top priorities”
Over the years, Huobi has managed to get approval from the regulators of countries such as the USA, Japan, South Korea, Hong Kong. The company moved its operations to Gibraltar last year due to its crypto-friendly stance.
The cryptocurrency exchange recently received regulatory approval from another Oceanian country, New Zealand.
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