Justin Sun’s Huobi Global Applies for Crypto Trading Licenses in Hong Kong

Market players are making moves as Hong Kong regulators attempt to re-establish Hong Kong as the crypto hub for Asia. Justin Sun’s Huobi Global has announced that it has applied in Hong Kong for a crypto trading licence.
Huobi Global plans to establish a local exchange, Huobi Hong Kong. The exchange will be compliant with all local regulations and offer a variety of trading pairs as well as services to customers.


Huobi Hong Kong will also offer trading services to institutional investors and high-net individuals in Hong Kong. Huobi Hong Kong is a trusted platform that will allow investors in Asia to access the crypto market. Justin Sun commented on the development:
“Huobi will be able expand its services and offer to customers in Hong Kong with the new license. This will allow Huobi to provide a wider range crypto trading and investment options. This is great news to investors and traders who are looking for a reliable and trustworthy platform to store, buy, and sell digital assets.
Huobi’s Hops on Hong Kong’s Easing Crypto Rules

Huobi’s latest announcement comes within an hour of Bloomberg’s report that Hong Kong regulators plan to allow retail investors trade larger crypto coins.
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The Securities and Futures Commission (SFC), in a consultation paper, noted that retail investors could trade larger amounts of crypto coins on licensed cryptocurrency exchanges. It would allow exchanges provide safeguards such a risk profile, knowledge tests, reasonable limits on exposure, and other safeguards.

However, the agency has not explicitly stated which crypto coins it would allow retail traders to trade. Bloomberg was told by an SFC spokesperson that retail trading will be possible under the new licensing system for crypto exchanges. A spokesperson for the SFC stated that two of crypto assets with the highest market capital are likely to be listed on Hong Kong platforms.
Other market players are also interested in licensing crypto customers in Hong Kong.

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The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.

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