Crypto exchange Huobi Japan successfully registers to offer derivatives – News Couple

Crypto exchange Huobi Japan successfully registers to offer derivatives

Huobi Japan, a bitcoin and cryptocurrency exchange, announced today that it has received approval from the Japan Financial Services Agency (FSA) to register as a Type 1 company in financial instruments, as defined under the Financial Instruments and Exchange Act.

This will enable Huobi Japan to engage in trading, underwriting and management of crypto-derivatives, as well as operating derivatives trading systems. The Financial Services Authority is the main regulatory authority for financial services in Japan, and it oversees the banking, securities, exchange, and insurance sectors.

Currently, only seven out of a total of 34 cryptocurrency exchanges in Japan have this license, which requires the owner to meet specific asset levels. Without this license, cryptocurrency exchanges may only offer limited cryptocurrency trading services to clients.

“We are very excited about reaching this milestone. This will enable us to expand our business beyond spot trading and support the next phase of our growth in Japan. Going forward, we plan to develop a number of crypto derivatives products to meet the increasing demands of the market.”
– CEO of Huobi Japan, Haiting Chen

In June 2020, Huobi Token (HT) received approval from local regulatory authorities in Japan to list HT as a fully compliant crypto asset. Going forward, Huobi Japan plans to significantly expand its commercial services and capabilities in Japan. As of September 2021, Huobi Japan offers instant trading services for 14 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH) and Huobi Token (HT).

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