Huobi Group, a worldwide cryptocurrency exchange, is returning to the United States after an unexpected withdrawal over a year ago.
Huobi US (HBUS), another Huobi Group statutory firm, halted operations in December 2019 due to regulatory issues. The departure, according to the corporation, was expected to be the next factor in developing its activities more compatible with US legislation and rules at the time.
Du Jun, one of the company’s co-founders stated,
“In 2018, we tried to enter the U.S. market but we quickly withdrew ourselves because we didn’t have a strong commitment to the market at that time and we didn’t have a good management team in the U.S.”
Du Jun, on the other hand, did not specify which business the company would undertake first upon its return to the United States. Returning to the US market might put the Chinese crypto exchange in close conflict with companies such as Coinbase.
Since then, the Seychelles-based exchange has been considering several options for re-entering the US market. The company’s Group global head Ciara Sun had stated in April that the exchange may partner with a fully licensed agency in the United States to run its operations throughout the country. According to CoinGecko, Huobi is among the top ten largest cryptocurrency exchanges in the world by trading volume.
Huobi opened its first cryptocurrency exchange in the United States in 2018. The following year, the firm said that user accounts in the United States would be frozen and that they will return to the industry in a more comprehensive and effective manner.
BabyDoge listing on Huobi
In other news, BabyDoge was listed on the Chinese exchange on 18, February 2022 at 9.00 a.m. UTC. It also said that Spot trading for BabyDoge in on the exchange, on the other hand, would only be accessible if the deposit volume meets the market demand. The firm also stated that it would tell investors in advance if they decided to open spot trading slots.
At the time of writing, BabyDoge was priced at $0.000000003283 and had risen by 4.5% over the last 24 hours.
Furthermore, many worldwide crypto exchanges are still having trouble obtaining licenses from state authorities in the United States, particularly for their fiat-crypto trading operations. Nonetheless, the Chinese crypto exchange’s move has provided the organization with a boost in terms of worldwide expansion.