This year can be characterized by numerous crypto regulations, changes in the laws, and the changing of countries’ views regarding the crypto industry.
Because of legislative changes, many crypto trading platforms were forced to leave the country in order to continue performing their activities.
The most recent company that has decided to move from its base country is Huobi, the third largest crypto exchange in terms of 24-hour trading volume. The Singapore-based Bitcoin trading platform is moving to Canada in order to settle in Toronto.
“Canada is emerging as a leading blockchain nation, and Toronto is set to become one of the next most active blockchain hubs across North America. Entering the Canadian market will help support Huobi to become the leader in blockchain and cryptocurrency innovation,” stated the General Manager of Huobi, Ross Zhang.
Huobi considers this move a successful plan for its integration into the blockchain sector. The company has begun its expansion since January 2018, when it announced the launch of a new headquarters in San Francisco, being legally registered with the United States Financial Crimes Enforcement Network (FinCEN).
The crypto exchange is present across the globe, funding the “Huobi Pro Exchange, Huobi Labs Blockchain Incubator, Huobi Capital Investment Fund“.
An important announcement made by Huobi was about the new partnership between Huobi Labs and Tianya Community, signed on April 30, 2018, that aims to create a “Global Cultural and Creative Blockchain Lab” in Hainan Province, China.
Huobi will hire Canadian talents
Huobi plans to hire citizens based in Canada and collaborate with as many local communities as possible. Zhang added that:
“Even though we started in China in 2013, we (Huobi Canada) are a Canadian company. We want to be as local as possible. We want to work with local communities – not just dev communities but financial service companies.”
The crypto trading platform is also planning to become a partner with the legislative agencies in order to make the blockchain sector more accessible and “credible”. According to Zhang’s statement, “we look forward to working with regulatory bodies to help the blockchain asset market become more credible so mass adoption can come sooner.”