Digital currency exchange Huobi Global faces new regulatory hurdle as it attempts to iron out lapses in its operation in Malaysia after being put under the Investor Alert list over its alleged lack of permit.
On August 23, Huobi will cease the intake of users with New Zealand KYC and IP addresses and stop allowing New Zealanders to open new derivatives positions.
The exchange received the license from the Australian Transaction Reports and Analysis Centre just weeks after securing similar nods in New Zealand and Dubai.
Huobi Global said that the application is in keeping with Hong Kong's new Anti-Money Laundering and Counter-Terrorist Financing Bill that will come into force in 2023.
Huobi obtained a money business service license but has yet to attain the money transmitter license, which would allow it to offer digital asset exchange services.
Huobi has obtained a license in Dubai but is yet to secure approval to provide digital asset trading services, in addition to its new license in New Zealand.
China is set to finally launch its national blockchain platform in the coming week, seeking to become the undisputed global epicenter of the technology.
Huobi has launched a mobile app that targets the Southeast Asian market, allowing users to purchase digital currencies from their phones for zero fees
