HBUS
 | |
| Type of business | Private |
|---|---|
| Founded | January 2018 |
| Headquarters | San Francisco, California, U.S. |
| Area served | United States |
| Key people | Frank Fu (CEO) |
| Products | Cryptocurrency wallet, Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tether, Dash, Zcash |
| Website | www |
HBUS is a virtual currency exchange headquartered in San Francisco, California. They are the strategic US partner of Huobi and offer trading in 41 states in the US only. [1]
History[edit]
On March 21, 2018, the San Francisco office of HBUS opened as the advertised strategic partner of Singapore-based Huobi exchange, one the largest cryptocurrency exchanges in terms of daily trading volume.[2] This relationship to Huobi makes HBUS a notable digital marketplace in the US.
Frank Fu, former managing director at Meitu, was appointed CEO on June 25, 2018. HBUS opened for trading on July 10th.[3].
Products[edit]
HBUS offers trading for the six highest volume digital currencies, with the exception of Ripple. They also offer digital coin wallets.
Compliance[edit]
HBUS is a FinCEN registered Money Service Business and advertises that they are in complete compliance with United States virtual currency regulations.[4]
In September 2018, the New York Attorney General office issued a 42-page "Virtual Markets Integrity Initiative Report" aimed at creating greater transparency of cryptocurrency exchanges regarding security, anti-hacking measures and business practices. Thirteen of the largest cryptocurrency market players, including Huobi, were invited to participate. HBUS received an invitation as the fourteenth after the report had begun, presumably because of its relationship to Huobi. HBUS was one of the nine marketplaces that answered the request. The report noted that HBUS was the only exchange to say that they had received compensation for listing certain coins and tokens, and that HBUS was the only exchange to claim as policy that their employees were prohibited from trading on their platform. The report also noted that Huobi did not provide information about their business practices and that Huobi said it did not conduct business within the US. As one of four businesses that did not provide information, it was the only one not to be referred to New York State Department of Financial Services for potential violation of New York’s virtual currency regulations. [5]
Sources[edit]
- ↑ "Third Largest Crypto Exchange Huobi Creates New Platform in US". Cointelegraph. 2018-06-08. Retrieved 2018-08-12.
- ↑ "Guide To Top Cryptocurrencyn Exchanges". Forbes. Retrieved 2018-06-20.
- ↑ "HBUS launches cryptocurrency trading for U.S. residents with 22 trading pairs". EconoTimes. Retrieved 2018-08-10.
- ↑ "Why The Flame Between Legacy Financial Institutions And Crypto Markets Is Still Burning". Forbes. Retrieved 2018-10-29.
- ↑ "Virtual Markets Integrity Initiative Report" (PDF). Office of the New York State Attorney General. Retrieved 2018-09-18.
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