The Financial Institutions Division of the Department of Business and Industry in Nevada has approved Huobi's application for trust license, says an official filing with the Hong Kong Stock Exchange.
With the license, Huobi will be able to offer custodial services in the US starting as early as of 2021.
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In December 2019, Huobi's US-focused cryptocurrency trading platform called HBUS ceased all operations in order to comply with US laws. It remains unknown whether Huobi will launch its services in the US after the US Financial Crimes Enforcement Network (FinCEN) suggested not only tracking transactions, but also identifying unhosted digital wallets. FinCEN is proposing to adopt these requirements pursuant to the Bank Secrecy Act.
Earlier in November, Huobi announced that its arm Huobi Labuan for the Malaysian market received a digital asset trading brokerage service license from Malaysian authorities.
The brokerage license allows the exchange to provide spot and derivatives trading services in Malaysia starting with a nine-month trial operation.
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