Crypto_Market_Analyst
2024/05/22 04:55
HTX Withdraws Hong Kong Crypto License Application
Huobi HK is no longer on the SFC’s list of virtual asset trading platform applicants, indicating it has withdrawn its application again. This decision came just two months after Huobi HK had re-submitted its application on February 26, following an initial withdrawal three days prior.
Hong Kong has been actively fostering its reputation as a crypto hub since June 2022 by permitting licensed exchanges to offer retail trading services. To date, only two platforms, HashKey and OSL, have secured licenses from Hong Kong regulators. The SFC has also issued warnings against websites falsely claiming to be regulated exchanges.
The SFC’s website indicates that numerous major global crypto exchanges, , are still undergoing the licensing process. The SFC is currently reviewing 20 such applications.
Despite Hong Kong’s apparent attractiveness, some crypto firms have abandoned the market. Huobi HK’s recent withdrawal marks the second time the company has pulled its application.
The SFC has not offered an explanation for these repeated withdrawals. This lack of clarity further fuels doubts about the exchange’s ability to operate successfully in Hong Kong.
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