Whose Platform is HEZBIT? Is HEZBIT legal?

HEZBIT, a P2P cryptocurrency trading platform, is fully owned by HEZ GLOBAL LTD Co., Ltd, established in 2014 in Colorado, USA, with an Asian subsidiary established in early 2023 in Singapore, with the aim of revolutionizing the cryptocurrency exchange landscape by addressing the limitations of major exchanges globally, such as high fees, complex interfaces, fragmentation, and market manipulation.

Founding Team:

-Charlie Lee: (FOUNDER)

Former co-founder and board member of Coinbase, played a critical technical role in the initial development of HEZBIT and contributed to the development of HEZCOIN.

-Ben Reeves: (CO-FOUNDER)

Co-founder and Board Member of HEZBIT, responsible for customer service and operations at HEZBIT.

-Eric Tan (COO)

Senior internet and system architecture researcher. He has over 10 years of experience working and starting businesses in the internet industry, as well as holding positions as CTO and senior partner of prominent IT companies like Youling, Fengzheng Lianxian, Ruiyun Wulian, etc.

-Andrew Alexander (COO)

Specializes in developing core operations and has held positions as CEO and architect at various internet companies. He also oversees the regional operations of the REAP project initiated by Stanford University in Asia.

-Dylan Alva (Head of Business Team)

Chairman of Jainson Media Company and project manager of a popular domestic e-commerce website. He oversees over 30 e-commerce service centers in the United States, focusing primarily on consumer finance.

Top Gan (CTO)

Top Gan is a technical expert in the open-source community and manages several popular open-source projects in GitHub. He has completed the design and implementation of the HEZBIT financial trading system.

Jack Wen (Marketing Director)

Jack Wen is the marketing director for the southwest market of iBOX PAY. He is in charge of a marketing team with over 300 employees.

Key Features of HEZBIT:

HEZBIT, recognized as one of the most advanced Bitcoin trading platforms in the world, provides hundreds of different digital currency transactions, including major cryptocurrencies like Bitcoin and Ethereum, as well as lesser-known tokens. This exchange is known for its user-friendly interface, high reliability, fast transaction speeds, and minimal market intervention. Users can engage in trading through various channels such as web browsers, mobile apps, and API interfaces. It employs scalable architecture and advanced security technologies, providing rich charts and trading tools for technical analysis and decision-making. In addition to standard trading features, HEZBIT also offers derivative services such as contract trading and leveraged trading. It also supports the HEZBIT Smart Chain, allowing users to issue tokens and develop decentralized applications. With a substantial user base and trading volume, HEZBIT ensures high liquidity and a positive trading experience for users.

Asset Security Measures and Reserves:

HEZBIT places a strong emphasis on user security and implements various security measures, including cold wallet storage, two-factor authentication, risk control systems, and Proof of Reserves (POR). POR ensures that the content stored for users is fully backed. For every Bitcoin a user deposits, HEZBIT's reserves will increase by at least one Bitcoin to ensure full backing for customers' funds. Notably, this does not include tokens held by the company as they are stored in a completely separate ledger. This means that HEZBIT has reserves consisting of all user assets on a 1:1 ratio, along with additional reserve funds. The capital structure is debt-free and has an emergency fund (SAFU Fund) to handle extreme situations.

Vision and mission of HEZBIT:

In this era of digital innovation and financial transformation, HEZBIT is determined to establish a groundbreaking, secure, and user-friendly cryptocurrency exchange platform. This joint venture is not just a business endeavor but also a commitment to the future of the financial world. Cryptocurrency is no longer on the fringes of technology experimentation but is increasingly becoming an essential part of the global economic system. Re-engaging in the business journey of operating a cryptocurrency exchange is driven by the need to meet the growing demand for digital assets and provide investors with a safer, more efficient, and more innovative trading platform.

The vision is to create a global cryptocurrency exchange committed to delivering a special user experience, high financial security, and a wide range of options for trading diverse digital assets. By introducing advanced security measures and technology, HEZBIT ensures maximum protection of users' digital assets. The goal is to promote financial innovation, expand the availability of digital assets, and allow more people to participate in the wealth opportunities of the digital age. Transparency, reliability, and innovation are believed to provide users with a more engaging trading experience. This commitment goes beyond a business plan; it is a promise for the future development of the financial industry. HEZBIT will uphold values of trust, security, and sustainability, injecting vitality into the field of digital assets and contributing to the prosperous future of finance. With years of experience in the cryptocurrency market, we maintain our determination to challenge ourselves and reach new heights.

Furthermore, as Singapore is an international financial center, the Singapore government has adopted open and comprehensive policies towards cryptocurrency to promote innovation and financial development. At the beginning of 2023, the founders, Mr. Charlie Lee and Mr. Ben Reeves, were warmly invited by the Singapore government to discuss. As representatives of leading technology in the industry, HEZBIT has decided to establish its Asian headquarters in Singapore. Therefore, HEZBIT must comply with the dual regulations of relevant authorities in the United States and Singapore to ensure enhanced security for users' funds globally.

Regulatory authority for HEZBIT:

1. Securities and Exchange Commission (SEC): Oversees whether the digital asset trading platforms provided by cryptocurrency exchanges comply with securities laws and regulations.

2. Commodity Futures Trading Commission (CFTC): Supervises cryptocurrency exchanges, particularly futures and derivatives trading.

3. Financial Crimes Enforcement Network (FINCEN): Regulates anti-money laundering (AML) and counter-terrorism financing measures for cryptocurrency exchanges, requiring compliance with KYC (Know Your Customer) and AML regulations.

4. Office of the Comptroller of the Currency (OCC): Monitors custody, payments, and other banking services provided by cryptocurrency exchanges, ensuring compliance with operational regulations.

5. US Anti-Money Laundering (AML) Act and KYC regulations: Collaborates with banks and payment service providers.

Singapore:

1. Securities and Futures Commission (SGX): The Securities and Futures Commission (SGX) is one of Singapore's key financial regulatory agencies. It oversees and monitors the securities and futures market in Singapore, including cryptocurrency exchanges.

2. Monetary Authority of Singapore (MAS): The Monetary Authority of Singapore (MAS) is an important financial regulatory agency in Singapore. It supervises banking activities in Singapore, including cryptocurrency-related activities in the banking sector.

3. Accounting and Corporate Regulatory Authority (ACRA): The Accounting and Corporate Regulatory Authority (ACRA) oversees and manages company registration and operations in Singapore, ensuring that cryptocurrency exchanges comply with relevant laws and regulations.

4. Singapore Police Force (SPF): The Singapore Police Force (SPF) is responsible for maintaining public safety, law and order in Singapore. It collaborates with other organizations to combat illegal activities related to cryptocurrency, such as money laundering and fraud.

5. Inland Revenue Authority of Singapore (IRAS) and Personal Data Protection Commission (PDPC): IRAS handles tax issues in Singapore, while PDPC is responsible for data protection. Both organizations play a regulatory role in overseeing aspects related to cryptocurrency activities in Singapore.

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