7 months ago
Justin Sun-related crypto speech HTX, formerly Huobi, has resubmitted its exertion for a Virtual Asset Trading Platform (VATP) licence successful Hong Kong. This determination comes aft it was reported to person withdrawn its archetypal application, according to a announcement connected the Securities and Futures Commission (SFC) website.
The archetypal application, filed done its Hong Kong subsidiary Huobi HK connected Feb. 20, was reportedly retracted connected Feb. 23 without immoderate explanation. However, the latest update connected the fiscal watchdog’s level reveals that the speech reinitiated the exertion process connected Feb. 26.
HTX has yet to respond to CryptoSlate’s petition for remark arsenic of property time.
Last year, Sun said helium was assured that Hong Kong regulators would assistance HTX a licence due to the fact that of its lasting successful the Asian market.
SFC restates warning
Meanwhile, Hong Kong’s SFC has stepped up its informing that unregistered crypto platforms indispensable registry by Feb. 29 oregon adjacent their businesses by May 31 via a pop-up connected its website.
The informing appears erstwhile a idiosyncratic accesses its website conception for listing registered platforms successful the city-state.
It stated:
“Virtual plus trading platforms operating successful Hong Kong which person not submitted their licence applications to the SFC by 29 February 2024 indispensable adjacent down their businesses successful Hong Kong by 31 May 2024. Investors utilizing these platforms should marque preparations early.”
Earlier successful the month, the SFC issued a notice that urged unregistered platforms successful the portion to commencement their licensing exertion process earlier Feb. 29. As of Feb. 27, the SFC has received 7 caller applications, including submissions from large crypto firms similar HTX, Bullish, and Crypto.com, raising the tally of speech applicants connected the regulatory roster to 19.
Hong Kong VATP License New Applicants Since Warning (Source: SFC)Despite this influx, OSL and Hashkey stay the lone licensed crypto exchanges successful Hong Kong.
Meanwhile, the regulator’s accent connected licence registration emphasizes its committedness to fostering a crypto-friendly atmosphere. Last year, Hong Kong introduced a licensing model for VATPs to facilitate retail trading services.
The station HTX reenters contention for Hong Kong crypto licence days aft withdrawing archetypal bid appeared archetypal connected CryptoSlate.
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