Huobi Global Exchange License?

[dkbit98]

Looks like Huobi Global Exchange has been lying about license they have for operating in Republic of Seychelles, and that can be seen on their website Legal page as well as in Coingecko page.

Financial Services Authority officials from Seychelles confirmed that Huobi has no license for operating there and for providing such services, but there is no reply from Huobi about this yet.

I would be careful and not trade or hold any coins there until this is resolved.

This Website is intended to provide professional, safe and trustworthy digital-assets transaction and asset management services to the digital asset enthusiasts and investors from all over the world to the greatest extent possible without violating relevant laws and regulations of the Republic of Seychelles.

https://support.hbfile.net/hc/en-us/articles/360000298621-Legal-Statement
Archive: https://archive.vn/ROD43

Alert: HUOBI GLOBAL LIMITED (194154)
This notice is issued by the Financial Services Authority ("FSA") pursuant to section 4(1)(m) of the Financial Services Authority Act, 2013 in relation to the International Business Company ("IBC"), HUOBI GLOBAL LIMITED with IBC number 194154.

Through information available in the public domain, the IBC HUOBI GLOBAL LIMITED appears to be affiliated with the online trading platform for virtual assets called “Huobi Global” and operates through the website: https://www.huobi.com.

The FSA hereby informs the public that the aforementioned IBC does not hold any licence issued by the FSA to undertake such type of activity. Therefore, the entity is not being regulated by the FSA nor has it been in the past.

The FSA strongly urges investors and members of the public to exercise caution in respect to the services offered by the above mentioned IBC any other company providing such services.

The Financial Services Authority

08 March 2021

https://fsaseychelles.sc/media-corner/regulatory-updates/alert-huobi-global-limited-194154
Archive: https://archive.vn/x8yFv

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[stompix]

Looks like Huobi Global Exchange has been lying about license they have for operating in Republic of Seychelles

It was just another trick like Binance was playing with its Malta license and headquarters.
If you read closer all the legal pages you've linked you will see that they are not claiming anywhere to actually have a license to conduct that type of business in Seychelles and it's actually a disclaimer they are not knowingly breaking the rules by operating there, playing with words to hide the truth, just like the whole thing with cryptos not being regulated it doesn't mean they are illegal.

That being said, I've never understood why somebody would trust an exchange that has fled HK for Seychelles in the case of Huobi or HK, Japan and Malta and landed nowhere in the case of Binance.

[dkbit98]

If you read closer all the legal pages you've linked you will see that they are not claiming anywhere to actually have a license to conduct that type of business in Seychelles

But it does say they are registered and incorporated in Seychelles in their User Agreement and Judicial Assistance Policy.
Sure we know they play around the rules and we all know they are actually Chinese exchange.

Huobi Global Limited. (hereinafter referred to as "the company") is a company incorporated in the Republic of Seychelles under the laws of the Republic of Seychelles, and operates the website https://www.huobi.com

As the subject of judicial assistance, Huobi Global Limited is registered in the Republic of Seychelles.

[stompix]

But it does say they are registered and incorporated in Seychelles in their User Agreement and Judicial Assistance Policy.e]

Yeah, and you have to acknowledge how good they are at twisting and use words and hide behind, they are registered and incorporated, as any business can be, but they are not licensed to conduct that type of business there.
It's the same with all those scams with a business registered in Estonia or in UK, they are registered but they are not allowed to conduct that business by the FCA, just like I can register a company with all the papers but I can't start digging for oil or coal or sell food without the other permits.

They are just playing around with the terminology and they know for sure most users don't care and even if they would most of them would be tricked by it, the ones that are actually doing proper research would have never thought of dealing with them in the first place.