Huobi Exchange Receives Gibraltar DLT License Huobi crypto exchange has become a licensed provider of distributed ledger technology (DLT) services from Gibraltar authorities, Finance Magnates writes, citing a statement released by the local regulator this Monday.

Huobi Exchange Receives Gibraltar DLT License

Cryptocurrency exchange Huobi became the licensee for provision of services in Gibraltar's Distributed Ledger Technology (DLT), writes Finance Magnates with link on a statement published by the local regulator in this monday.

“This announcement is another example of effective support for cryptocurrency companies wishing to drive innovation under sound and reliable regulation,” said Gibraltar Commerce Minister Elbert Isola. "A strong DLT legal framework supports high-profile companies such as Huobi to build their own value.".

Previously, several companies from the cryptocurrency sector managed to become holders of a DLT license from the local regulator, including Coinfloor, Covesting and the Gibraltar Blockchain Exchange. Holders of this license have the right to legally "store and transfer valuables belonging to third parties using distributed ledger technology".

It is assumed that the presence of a Gibraltar DLT license for a company should instill confidence in its customers, since the local regulator imposes various requirements in the process of business valuation, as in the field of traditional finance..

Previously became known on Huobi's plans to expand in Russia.

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