One of leading Chinese cryptocurrency exchanges Huobi has announced its soonest launch in the United States and has registered with the US Financial Crimes Enforcement Network (FinCEN) as a money services business, CoinSpeaker reported.
The platform will be a separate exchange that will deal only with cryptocurrencies. It will be created especially for US clients and won’t be a part of the already functioning platform Huobi Pro.
The platform is expected to be launched in May this year, said Le Lin, the founder and chief executive officer of Huobi.
Li admitted, however, that registering with the U.S. financial watchdog doesn't resolve all of the possible regulatory issues that come with operating within the US.
"The issue is, currently there is no clear regulatory requirement for crypto-to-crypto trading platforms from the US at the federal level. Other platforms like Poloniex also operate in a similar way with registration as a money service business," Li said.
The Huobi CEO also said that he believes the US Securities and Exchange Commission could weigh in on the issue of crypto-to-crypto trading in the US, adding that Huobi would comply with that guidance.