Crypto Exchange Huobi Approved to Operate in Australia

Cryptocurrency exchange Huobi can now start offering crypto trading services in Australia after its successful registration as a digital currency exchange provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC), the company announced on Monday.

The greenlight down under follows Huobi landing regulatory approval in the United Arab Emirates and New Zealand recently, while it is set to enter the U.S. market through its subsidiary HBIT, formed in July.

Huob relocated to Gibraltar in late 2021 after exiting mainland China. It had also ceased operations in Singapore in by the end of March 2022.

In May, Huobi said announced the acquisition of Latin American crypto exchange Bitex thereby expanding its presence in the region.

In February, co-founder of the exchange, Jun Du, said that a new bull run might still be years away.

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