The Japan Financial Services Agency (FSA) authorized the trading of the Huobi Global token on the official website of the Japanese division of Huobi as a “compliant digital asset in Japan”.
FSA approves HT as THE FIRST global compliant exchange platform token in Japan!
Huobi Japan will officially list HT in May and HT will be traded and acknowledged as the 26th compliant digital assets in Japan. #HuobiTokenJapan
— Huobi (@HuobiGlobal) April 23, 2020
Huobi Token will be the 26th digital currency and the first among exchange tokens approved by the regulator. HT trading will begin in May.
The company managed to get a positive verdict before the amendments to the laws “On Payment Services” and “On Financial Instruments and Exchanges”, which tighten local cryptocurrency legislation, entered into force on May 1.
Huobi Global’s subsidiary in Japan Huobi Japan began operations at the end of 2018, receiving the seventh license from the country’s Ministry of Finance. In addition to six digital assets, the platform also offers the possibility of exchanging cryptocurrencies for the Japanese yen.
Huobi Token was launched in January 2018 and allowed its holders to reduce the amount of trade commissions by up to 50%. In March, the native token also began to be used on the Huobi Chain test net, which focuses on decentralized finance (DeFi) services.
Moreover, Huobi Global plans to resume business in the US in partnership with a local licensed trading platform to meet all regulatory requirements and save money