Lily Zhang, Chief Financial Officer of Huobi Tech, discusses the regulatory landscape for digital assets at the Greenwich Economic Forum
HONG KONG, October 18, 2021 / PRNewswire / – Huobi Technology Holdings Limited (Huobi Tech, stock code: 1611), a leading virtual asset service platform, attended the Greenwich Economic Forum (GEF), an annual global investment conference . Lily zhang, the chief financial officer of Huobi Tech spoke in a fireside conversation: “The global regulatory landscape for digital assets and the future of the industry.” During the panel, she touched on several topics, including the benefits of adaptive regulations for cryptocurrency and the importance of communication between regulators and traders, as well as the evolution of Huobi Tech’s global strategy in to the extent that it complies with regulatory requirements around the world.
Greenwich is known 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. Featured speakers such as the founder of Bridgewater Associates – Ray dalio, former chairman of the US Federal Reserve – Alan greenspan, and from New York University Stern Nouriel Roubini business school participated in the forum. Although it is a finance conference, the GEF also includes discussions and debates on topics related to government, healthcare, technology and culture.
During the panel on the regulatory landscape for digital assets, Zhang stressed the importance of regulations, as they establish ordinances so that the industry can operate more efficiently and safely, and with predictable results. She pointed out that recent cases in regions such as El Salvador, United States, and Indonesia suggest that regulators and market players can and will work together to establish regulation. Zhang also stressed the importance of listening to different perspectives regarding regulation, as this encourages the industry to be regulated and generally compliant.
“By communicating in different ways among different parties, such as regulators, investors, industry organizations, the development of the industry can be guided by clearer regulations and a secure environment,” said Zhang.
Zhang added that since the digital asset industry is still in its infancy, regulators are unsure how to handle its borderless nature. Currently, regulatory oversight is divided between the European, Asian and American markets, and “each region is copying and learning from each other”.
Zhang also discussed Huobi Tech’s approach to navigating the changing regulatory landscape as it continues to expand its international presence. One of its wholly owned subsidiaries, Huobi Asset Management, has received the approval of the Securities and Futures Commission to Hong Kong (“SFC“) to conduct Type 4 (securities advisory) and Type 9 (asset management) regulated activities last year, with five funds successfully launched earlier this year, to meet growing investor demands professionals. Huobi Tech has also established two other wholly-owned subsidiary funds: Huobi Trust, a US-based trust company licensed by the State of Nevada, and Huobi Trust Hong Kong, a trust company registered under the Hong Kong Trust Ordinance with a Trust or Corporate Services Provider (TCSP) license. At the end of August, assets under custody by Huobi Trust Hong Kong exceeded US $ 1 billion.
About Huobi Technology Holdings Limited
Huobi Technology Holdings Limited (“Huobi Tech”, formerly known as “Pantronics Holdings Limited”) has been listed on the november 2016. Mainly engaged in OEM and EMS manufacturing of electrical 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 services platform in Asia. Huobi Tech currently offers data center 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 licenses and financing in major markets around the world. So far, its respective subsidiaries have already successfully obtained authorization from the SFC to carry out regulated activities of type 4 (securities advice) and type 9 (asset management), registered under the name of Hong Kong trust company with trust or corporate service provider license (Hong Kong) and the trust company license (Nevada United States).
SOURCE Huobi technology