Huobi Group announced that it set up new regulations for managing Huobi Tokens and has enforced them.
Regulations for management of Huobi Tokens (HT) are about promoting healthy development of blockchain industry and protecting investors’ legal rights.
Regulations ask for accurate communications between participants and careful attention on fairness and transparency of transactions. For this, it has redefined words such as ‘Huobi Global’, ‘project team’, ‘recommended organization’, ‘token’, and others that are used universally.
They are composed of 25 items in total. Project teams especially need to periodically show their temporary information to Huobi’s blockchain project exhibition center (Huobi Coinbook) and guarantee honesty, accuracy, and completeness.
Huobi Group also stated rights to respond to risks of project teams or recommended organizations through investigation, security evaluation, evaluation of white paper, and Q&A.
Items for protecting investors’ rights are also added to these regulations. Tokens that violate regulations will be marked with a warning message ‘ST’, which expresses a risk of being de-listed, so that investors are informed about such tokens.
Tokens that are still not improved after receiving ‘ST’ mark will be removed or have their transactions put on halt depending on seriousness of their violations.
Staff Reporter Gil, Jaeshik | osolgil@etnews.com