Houbi Launches New Exchange In US
Under the name of HBUS, a new partner cryptocurrency trading exchange is launching in the US, and registration for users will be available on Friday. Trading will commence on the 10th of July.
Crypto trading will be available for Bitcoin, Etherium, and many other currencies on the new exchange. Houbi stated that it would not yet allow flat currency conversions to digital coins as an extensive license process and current United States regulations were at a roadblock. No comment on when the service would be available was made.
The company stresses that HBUS is not a subsidiary or separate section of Houbi, but a US partner. Houbi also pointed to its name, HBUS, as the only name given to the partner, securing its position as nothing else.
As an operational financial institute in the United States, HBUS must comply with all regulations in place. Anti-money laundering laws, as well as CTF and MSB, must be upheld and every user registering for the new exchange must undergo a Know Your Customer process.
The OFAC, in charge of implementing U.S laws regarding trade and finance, will also monitor the partner exchange. The office is the same one to enforce the U.S President’s decision on banning Petro coins.
HBUS will operate out of San Francisco where Coinbase is based, joining one of the world's leading exchanges in an area known for its innovative blockchain scene. Houbi also launched HoubiAU which trades in the same currencies as its US cousin.