Huobi Tech CFO Lily Zhang Discusses Digital Asset Regulatory Landscape at Greenwich Economic Forum

HONG KONG, Oct. 18, 2021 /PRNewswire/ -- Huobi Technology Holdings Limited (Huobi Tech, stock code: 1611), a leading virtual asset services platform, participated in the Greenwich Economic Forum (GEF), an annual global investment conference. Lily Zhang, CFO of Huobi Tech spoke during a fireside chat, "Global regulatory landscape for digital assets and what's next for the sector." During the panel, she discussed several topics, including the benefits of adaptive regulations for cryptocurrency and the importance of communication between regulators and business operators, as well as Huobi Tech's evolving global strategy as it complies with regulatory requirements around the world.

Greenwich is famous as the "hedge fund capital of the world" and many of the leading hedge fund, private equity, and venture capital firms are represented at the Greenwich Economic Forum. The blockbuster speakers such as founder of Bridgewater Associates - Ray Dalio, Former Chair of US Federal Reserve - Alan Greenspan, and New York University's Stern School of Business Nouriel Roubini attended the forum. While a finance conference at its core, GEF also includes discussion and debate on topics related to government, healthcare, technology, and culture. 

During the panel on the digital asset regulatory landscape, Zhang highlighted the importance of regulations, as they establish orders so that the industry can function more efficiently and safely, and with predictable outcomes. She pointed out that recent cases in regions such as El Salvador, the United States, and Indonesia suggest that regulators and market players can and will work together on establishing regulation. Zhang also emphasized the importance of listening to different perspectives regarding regulation, as it fosters the industry to be regulated and compliant overall.

"By communicating in different ways within different parties, such as regulators, investors, industry organizations, the industry development can be led by clearer regulations and secure environment, Zhang said.

Zhang added that because the digital asset industry is still in its early stages, regulators are unsure of how to deal with its borderless nature. Currently, regulatory supervision is divided into the European, Asian, and American markets, and "each region is copying and learning from each other."

Zhang also touched on Huobi Tech's approach to navigating the evolving regulatory landscape as it continues to expand its international footprint. One of its wholly-owned subsidiaries Huobi Asset Management received approval from The Securities and Futures Commission of Hong Kong ("SFC") to conduct Type 4 (advising on securities) and Type 9 (asset management) regulated activities last year, with five funds successfully launched early this year, to meet professional investors' growing demands. Huobi Tech has also established two more wholly-owned subsidiaries: Huobi Trust, a U.S.-based trust company licensed by the state of Nevada, and Huobi Trust Hong Kong, a registered Trust Company under the Hong Kong Trust Ordinance with Trust or Company Service Provider (TCSP) license. As of the end of August, the asset under custody by Huobi Trust Hong Kong has exceeded US$1 billion.

About Huobi Technology Holdings Limited

Huobi Technology Holdings Limited ("Huobi Tech", formerly known as "Pantronics Holdings Limited") was listed in November 2016. Primarily engaged in OEM & EMS manufacturing of power-related and electronic products, Huobi Tech is actively developing the blockchain ecosystem and virtual asset ecosystem business. Huobi Tech is committed to becoming the leading one-stop virtual asset service platform in Asia. Huobi Tech currently offers data centre services, cloud-based services, SaaS, virtual asset management, custody, trust, and other related services. In May 2021, the company was included in the MSCI Hong Kong Small Cap Index.

Huobi Tech is applying for virtual asset and finance-related licenses in major markets around the world. Up to now, its respective subsidiaries have already successfully gotten approval from the SFC to conduct Type 4 (advising on securities) and Type 9 (asset management) regulated activities, registered as Hong Kong trust company with the Trust or Company Service Provider License (Hong Kong), and the Trust Company License (Nevada USA).

SOURCE Huobi Technology

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