An attorney has accused global crypto trading platform, Huobi, of not being a ‘registered’ exchange anywhere in the world as the registered address is only a mailing address while there is no office establishment at the given address, which makes the firm a ‘non-registered’ firm in any part of the world.
Jonathan Levy is a US-based attorney by profession and has been pursuing his career in the US as well. The lawyer has raised objections and doubts against one of the globally popular crypto trading platforms namely Huobi – a decentralized crypto firm.
Levy has claimed that Huobi is a non-registered crypto entity in any part of the world. However, it has been carrying on the business of crypto trading in multiple jurisdictions of the world. Resultantly, if any civil or criminal liability is to be fixed upon the firm, it would be impossible for any state to held Huobi accountable for anything.
Apparently, the website of Huobi provides that the firm is a registered entity and the area where it is registered is ‘Seychelles’. The website also provides a mailing address to the registered address in Seychelles. The attorney also accused Huobi of misguiding French crypto investors who were later defrauded at the hands of a fraudster in China. He alleged that the French victim’s funds were ultimately transferred into the account of a Chinese fraudster in Huobi. However, the victim did not lose hope and sought help from French police and eventually made the police initiate an inquiry and ask Huobi to cooperate.
Levy further claims that when French police asked Huobi to cooperate, the firm swiftly refused to do so because French authorities have no jurisdiction. This gave enough time to the Chinese fraudster to shift all of the stolen funds and remove evidence, argues Levy. Somehow, later on, Seychelles Police intervened at the request of French Police and an investigation was carried out. However, Seychelles Police told that the registered office had no office establishment and was only used for receiving mails.
The attorney has argued that having no office premises at the registered address shows that there is something wrong with Huobi. The firm claims to be a registered firm but does not operate from the registered address. But, at the same time, it has an online presence in almost every country of the world from where it is carrying on its daily business.
Levy has suggested that he would personally take up the matter against Huobi. He stated that he will make sure that Huobi is summoned by a Court of Law and held accountably. He suggested that a registered office means the physical presence of an entity at the given address and not just a mailing address.
Although Huobi Global is aware of the issue but has not proceeded yet to comment on it.
