Huobi isn’t registered for crypto trading in Seychelles, local regulators say

The major crypto exchange has long claimed registration in the famous offshoring haven.

Despite long claiming to be compliant with local laws, Huobi seems to have forgotten to register as a company, according to authorities in the Seychelles.

On Monday, the Seychelles Financial Services Authority, or FSA, posted an official statement saying that Huobi Global Limited is not registered in the country, despite being the International Business Company publicly affiliated with Huobi.com’s crypto services.

The FSA stated that Huobi Global Limited does not hold any license issued by the regulator to undertake in virtual asset trading. “Therefore, the entity is not being regulated by the FSA nor has it been in the past,” they said. The authority went on to urge investors and the general public to be alert in respect to services offered by Huobi Global Limited as well as “any other company providing such services.”

Speaking to Cointelegraph, a Huobi spokesperson denied the FSA’s announcement, saying, “Huobi Global Limited is registered in Seychelles and operates with a global structure, serving users in many countries around the world adapting to local laws and regulatory rules.”

The spokesperson had not provided a more detailed response as of press time, nor any proof of registration.

According to the user agreement on the official Huobi Global website, Huobi Global Limited is a company incorporated in the Republic of Seychelles under the laws of the Republic of Seychelles. 

The official Huobi website significantly relies on Seychelles’ laws as part of its terms of service, including multiple mentions of the jurisdiction in its legal statement. “This Website is intended to provide professional, safe and trustworthy digital-assets transaction and asset management services […] without violating relevant laws and regulations of the Republic of Seychelles,” the statement reads.

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