RATE Group | Fmr. Huobi US Compliance Chief Talks NY Crypto Exchange Report
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Fmr. Huobi US Compliance Chief Talks NY Crypto Exchange Report

22 Sep Fmr. Huobi US Compliance Chief Talks NY Crypto Exchange Report

Posted at 22:49h in Cryptocurrency News by

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OAG cryptocurrency exchange report

Harry Zhou, former general counsel and compliance officer for Huobi US, spoke with CCN about the latest report from New York’s attorney general on cryptocurrency exchanges.

Zhou helped set up the legal framework in New York for cryptocurrency exchanges, namely the application and regulations for the BitLicense. He represented Huobi for comments on the BitLicense proposal and is a leading expert on blockchain law and regulation.

Speaking with CCN, he discussed the overall impact the report could have on exchanges across the U.S., including efforts some exchanges are making to gain federal approval. Gaining federal approval for a banking charter would ease the cumbersome process of obtaining licenses as money transmitter businesses in each state.

OAG’s Report: Impact and Controversy

The Virtual Markets Integrity Initiative report, released Sept. 19, drew criticism for its threats towards exchanges that declined to participate, even though they do not have operations in…

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