Huobi can start providing crypto exchange services in Australia following its registration as a supplier of digital currency exchange services with the Australian Transaction Reports and Analysis Centre (AUSTRAC) on August 1.
After getting its registration, the crypto exchange initially stated that it would concentrate on offering over-the-counter services.
Huobi is still considering expanding its horizons and is also considering entering the American market. In July 2022, Huobi established its American affiliate, HBIT.
The company hopes to begin exchange services in the future after receiving a Money Services Business license.
In June 2022, Huobi also obtained licenses in New Zealand and the United Arab Emirates. The exchange has been given preliminary authorisation by Dubai's Virtual Assets Regulatory Authority (VARA) to start providing its services there.
As part of the licensing procedure, Huobi's local organization will provide a full range of cryptocurrency exchange products and services and will run on a test-adapt-scale approach.
The business struggled in Thailand during the same month, and it ultimately shut down for violating rules set by the Thai Securities and Exchange Commission.
Late in 2021, as a result of the most recent Chinese crackdown on cryptocurrency use in the nation, Huobi was compelled to migrate to Gibraltar.
Businesses and service providers interested in the bitcoin industry are increasingly drawn to the British Overseas Territory.