Japanese Regulators Approve Huobi Crypto Exchange Token

  • Japan’s financial services agency approves Huobi crypto exchange token

  • Huobi Token will start trading on the Japanese market from May 1

  • Approval drives the development of the Huobi Token ecosystem

International consortium of news organizations developing transparency standards.

The Japanese financial regulator has authorized the trading of the Huobi Global cryptocurrency exchange token. Huobi Token (HT) Coming To Japanese Market In May.

Japanese Regulators Approve Huobi Crypto Exchange Token

Huobi Token Likes Japanese Regulator

Japan’s Financial Services Authority (FSA) has already approved 25 coins, but HT is the first token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More, issued by a cryptocurrency exchange that has passed regulatory due diligence, according to an official press release released by the exchange. The Japanese regulator is considered one of the strictest and most scrupulous regulatory bodies, so its approval could be the impetus for Huobi’s global development. Earlier, the editorial staff of BeInCrypto reported that tax legislation needs to be changed to accept digital currencies.

Japan is currently tightening requirements and updating existing laws to better define the status of cryptoassets. Last year, the Japanese House of Representatives passed amendments to two pieces of legislation, the Payment Services Act (PSA) and the Financial Instruments and Exchanges Act (FIEA), which will allow the classification and regulation of crypto assets. The amendments are expected to enter into force on May 1.

The HT token will appear on Huobi Japan first. It is a subsidiary of Huobi Group, launched at the end of 2018. It operates under license from the Kanto Finance Bureau No. 0007 issued by the Ministry of Finance of Japan. Today, the Japanese platform supports six digital assets, 10 trading pairs, and the exchange of cryptocurrencies for the Japanese yen. From May 1, the line of the exchange will be replenished with the HT token

Token ecosystem will continue to grow

Recently, crypto exchange Huobi has expanded the ecosystem and scope of its tokens. In particular, the HT token has recently been used as a vehicle for the transfer of donations to the global non-profit organization Project HOPE, which has been involved in health development and emergency care since 1958..

Earlier this year, Huobi began partnering with Travala.com.

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This hotel booking platform supports cryptocurrency payment and HT is integrated into it as one of the most preferred payment methods.

HT will also become the native token of the ecosystem based on the Huobi Chain open blockchain, which is targeted at banks and financial institutions. It will launch on the mainnet later this year..

To expand the use of HT outside the Huobi ecosystem, Huobi is stepping up efforts to integrate with third-party partners, including international credit card and digital bank card issuers, large technology companies and global business hubs..

Do you think the approval of the Japanese regulator will help raise the demand for the cryptocurrency exchange token? Share your opinion in the comments.


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