Mr4Beast

2024/05/21 17:40

HTX affiliate Huobi Hong Kong withdraws crypto lic

The Hong Kong affiliate of cryptocurrency exchange HTX, formerly Huobi Global, has for the second time withdrawn its application for a licence to operate a virtual asset trading platform (VATP) in the city, forcing it to close operations as required by the city’s regulations.

The Securities and Futures Commission (SFC) has removed HBGL Hong Kong Limited from a list of cryptocurrency exchange licence applicants on Tuesday after the firm withdrew the application for its platform Huobi HK, according to the SFC website.

HBGL first submitted its application on February 20 before withdrawing on February 23.

The company then resubmitted an application on February 26, only a few days before Hong Kong’s February 29 deadline for crypto exchanges hoping to operate legally in the city.

Huobi HK has not publicly disclosed the reason for its latest withdrawal, or whether it was instructed by the SFC to do so.

 In either case, HBGL must cease operating its exchange in the city within three months.

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