The SEC’s inspection on the operation of Huobi as a digital asset exchange operator during February 2021 - March 2021 detected deficiencies and insufficiency in Huobi’s management structure and
facilitates private sector to further advance their fundraising activities and investment on sustainable projects and economic activities. Altogether, these pave the way for a thriving economy, society, and
recommended to deal with the said insufficiency; (4) Monitoring (MR): Some audit firms were found having insufficient monitoring and without action plans to monitor deficiency remediation. In this regard