Huobi Launches Intelligence Tool to Douse Out Illegal Activities

Huobi tool will freeze accounts with suspicious transactions

The tool is there to prevent all the illicit activities which are usually there in this market. It will automatically freeze all the accounts which will be found suspicious of any such activities. According to the press release, all the accounts which will be found out to be involved in suspicious activities will be blocked. These accounts will remain blocked until and unless any compliance officer will be assigned to the case. The main purpose to launch this tool is to protect its exchanges from all the illicit activities.

It has not been released by the firm that what they will be considering the illicit or suspicious transactions. However, it has revealed through a press release that it will be looking after all the transactions which will come from blacklisted addresses.

Star Atlas will help to crack down on bad actors

Ciara Sun, Vice President of global business, Huobi has said that the main purpose of Star Atlas will be to help the firm’s exchanges to crack down on all the bad actors. The bad actors' name will be given to all those dealers or users who have been previously involved in illicit activities.

Huobi is also preparing to expand its business again in the U.S. market. The name has not been revealed yet with whom the firm will be collaborating. There were certain reports in which the company has announced that it will most probably comply with the local regulators of the U.S. easily.

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