The Huobi Token, Huobi's native token, has just been approved in Japan.
The token has just become the first exchange token to be approved by the Japanese regulators.
The Financial Services Agency of Japan (FSA) has approved the HT as a compliant crypto asset, which means that starting on May it can be traded in the world's second largest digital asset market.
This news is a milestone for the Huobi Token, since the country's regulators only allow trading other 25 tokens.
The country has tightened its regulation in order to protect investors. Thus, last year the House of Representatives revised the Payment Services Act (PSA) as well as the Financial and Exchange Instruments Act (FIEA), which will come into force on May 1.
The update of both regulations will offer greater protection to crypto investors. Just as an example, from May 1 even custody providers that are not involved in selling, buying and intermediating crypto assets will have to comply with the new PSA regulations.
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