Huobi applied to launch a crypto exchange in Hong Kong


On May 29, Huobi cryptocurrency exchange applied for a license in SFC to organize spot trading in digital assets for retail and institutional investors.

According to the rules proposed by the SFC, from June 1, operators of platforms for trading cryptocurrencies must be licensed. Companies that refuse to comply with this requirement are required to curtail their activities.

Huobi HK will engage auditors and also focus on compliance and anti-money laundering.

Initially, bitcoin, Ethereum and “other large coins” will be listed on the platform.

“Huobi will continue to work with Hong Kong regulators to support the development of a dynamic hub Web3»the company assured.

Recall that OKX and BitMEX announced plans to work in a special administrative region of China.

In January 2023, Hong Kong Financial Secretary Paul Chan announced that the jurisdiction was ready to accept crypto-currency companies from all over the world.

May chapter HKMA Eddie Yue clarified that the authorities will take a tough but reasonable approach to the regulation of cryptocurrencies.

Earlier, the Malaysian regulator announced that Huobi did not have permission to work in the country.

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