Singapore crypto-exchange gets Japan licence by acquiring licenced firm

Executive Summary

  • Huobi secured a Japanese licence by buying an already-licenced exchange in Japan.

Details

  • Huobi is the world’s 7th largest crypto exchange and is Singapore-based.
  • In 2018, Huobi bought BitTrade, a Japan-based exchange with a licence from Japan’s Financial Services Agency (FSA).
  • Given Huobi’s merger with BitTrade, Huobi Japan has now secured a full licence in Japan (under the Virtual Currency Exchange Service Provider licence).
  • 17 such licences has been issued so far.
  • A number of other large exchanges are still waiting for a licence.

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