Last Updated on May 29, 2023 by Bitfinsider
Huobi HK is now offering cryptocurrency spot trading to retail and institutional clients in Hong Kong, having applied for a license to operate as a virtual asset exchange.
According to a statement on Twitter, the exchange submitted an application notice to the Hong Kong Securities and Futures Commission on May 29. Before they can begin offering regulated services, crypto companies must submit a license application.
In addition, the platform will collaborate with auditors and prioritize compliance and anti-money laundering regulations. This is intended to satisfy the Hong Kong Securities and Futures Commission’s requirements.
In order to safeguard retail investors and promote innovation, Hong Kong has recently implemented a crypto licensing regime for crypto exchanges. Other companies, including BTSE, JPEX, and OKX, have expressed interest in applying for the license.
Huobi’s Hong Kong service is accessible via the primary Huobi website. The exchange announced on May 26 that Huobi HK will list significant cryptocurrencies including bitcoin and ether.
“The regulation of web3 in Hong Kong will contribute to the global proliferation of cryptocurrencies. “Huobi will continue to collaborate with Hong Kong’s regulatory authorities to promote the growth of a thriving web3 hub,” the exchange stated at the time.
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