• Huobi HK reportedly withdrew its utility for SFC's digital asset buying and selling platform license on Could 14th.
• The platform initially submitted the applying on February twentieth, however withdrew it on February twenty third.
• Huobi HK resubmitted the applying on February 26, however the second utility was withdrawn.

In response to current stories, HTX's Hong Kong subsidiary Huobi HK has withdrawn its utility for a digital asset buying and selling platform license from the Hong Kong Securities and Futures Fee (SFC) for the second time.

In response to an X publish on the Wu Blockchain web page by Chinese language cryptocurrency reporter Colin Wu, Huobi HK withdrew its utility on Could 14th. The platform initially submitted a license utility on February 20, however withdrew the applying three days later.

Huobi HK resubmitted the applying on February twenty sixth, nevertheless it was withdrawn once more on Could 14th. Repeated utility withdrawals have raised considerations inside the group in regards to the firm's readiness to supply providers in Hong Kong, fueling hypothesis about Huobi HK's future and potential operational challenges. Within the metropolis.

The SFC shared a listing of platforms whose license purposes have been “returned, refused, or withdrawn.” These platforms have been faraway from the “Crypto Asset Buying and selling Platform Applicant Record” (VATP Applicant Record).

Different platforms which have withdrawn their VATP license purposes embody Ammbr, BitHarbour, HKVAEX, IBTCEX, and QuanXLab. Previous to this, Meex Digital Securities Restricted's Meex utility was returned on February 7, 2024 and the platform was delisted on his February 7, 2024.

Ammbr will probably be faraway from the SFC's record of VATP candidates in 2023, and all different platforms will probably be eliminated in 2024. The newest withdrawal was Huobi HK, whereas QuanXLab and IBTCEX withdrew their purposes on Could thirteenth.

In associated information, the SFC introduced that it’s going to shut down unlicensed digital foreign money firms by the tip of Could 2024. The regulator obtained license purposes from 22 firms, together with Huobi, earlier than the deadline. Nonetheless, main gamers resembling Binance, Kraken, and Coinbase have been unable to submit their purposes.