Crypto exchange Huobi Russia launches legal lab

Huobi Russia, the Russia-based cryptocurrency exchange launched by Huobi Group, has announced the setting up of Huobi Legal Lab which will provide legal support to local digital projects.

The announcement was made by Huobi Russia in its official Telegram channel.

Earlier this month, Huobi Group officially announced the opening of its Russian office, launched in partnership with the VEB Digital Transformation Center and Russian experts in the field of blockchain and exchange trading.

According to the latest announcement, the legal competence center has been launched with the support of VEB's Digital Transformation Center. The legal lab will be led by Elina Sidorenko, Professor at Moscow State Institute of International Relations (MGIMO).

“In a situation where the regulatory framework is developing more slowly than the digital industry itself, legal support is vital for business. Our specialists at the Huobi Legal Lab center will help you properly pack digital projects, ensure that digital assets do not violate existing laws and comply with international law, ” Sidorenko said (via online translation).

In addition, the legal lab will also develop and evaluate draft regulations to create a friendly regulatory environment and a favorable legal regime for digital market players in the country.