Huobi is set to offer cryptocurrency trading to retail and institutional clients in Hong Kong. Huobi has applied for a crypto-asset exchange license to offer crypto spot trading to its retail and institutional clients in Hong Kong.
Huobi Applies For Cryptocurrency Exchange In Hong Kong
According to a statement on Twitter, the exchange submitted an application notice to the Hong Kong Securities and Futures Commission on May 29. Crypto firms must apply for a license before they can start offering regulated services.
It was stated that the platform will work with auditors and will focus on compliance and anti-money laundering regulations. This will aim to meet the requirements of the Hong Kong Securities and Futures Commission.
Hong Kong recently introduced a crypto licensing regime for crypto exchanges to protect retail investors and allow innovation. Other companies such as BTSE, JPEX and OKX have also stated that they want to apply for the license.
Huobi's Hong Kong offering operates through Huobi's main website. The exchange announced on May 26 that Huobi HK will list Bitcoin and Ethereum, among other notable coins.
“The regulation of web3 in Hong Kong will contribute to the widespread adoption of cryptocurrencies on a global scale. Huobi will continue to cooperate with regulatory authorities in Hong Kong to support the development of a live web3 hub,” he said.
Crypto exchange Huobi has traded $12.7 billion so far this month, following larger exchanges like Binance, Coinbase, and OKX.
*Not investment advice.
