The Seychelles FSA [Financial Services Authority] alerts its investors earlier on Monday over an entity referred to Huobi Global Limited.
The Seychelles regulator believes the entity is associated with cryptocurrency exchange Huobi Global and is working within the country despite never being licensed to try for so.
The IBC [International Business Company] Huobi Global Limited “appears to be affiliated” with the web trading platform of a similar name, the Monday notice explained.
The FSA is encouraging investors to exercise caution when handling businesses with the firm.
While explaining further, a Huobi representative added that: “Huobi Global Limited is a Seychelles-registered company that’s a part of Huobi Group. It offers services to global users in accordance with applicable laws.”
The person added that the firm’s legal team is drafting an in-depth response to the FSA’s notice.
Huobi Global’s legal statement on its exchange platform, last updated two years ago, makes multiple references to the laws and regulations of the Republic of Seychelles.