• Earlier than providing regulated companies, cryptocurrency firms should first apply for a license.
• Huobi HK has introduced that it’ll listing BTC, Ethereum and different main cryptocurrencies.

Huobi HK has utilized for a digital asset alternate license and now provides spot buying and selling and digital asset custodian companies in Hong Kong. The alternate submitted a discover of software to the Hong Kong Securities and Futures Fee (SFC) on Might 29, in accordance with a Twitter publish. Earlier than providing regulated companies, cryptocurrency firms should first apply for a license.

The platform will work with auditors to make sure adherence and compliance with anti-money laundering rules, in accordance with a press release. The objective is to adjust to the requirements set by the Hong Kong Securities and Futures Fee.

Favorable regulatory surroundings

To guard retail buyers and encourage innovation, Hong Kong has simply created a cryptocurrency licensing scheme for cryptocurrency exchanges. BTSE, JPEX and OKX are among the many firms serious about making use of for licenses.

You may entry Hong Kong companies from the Huobi important web site. On Might 26, Huobi HK introduced that it could listing Bitcoin, Ethereum and different main cryptocurrencies.

The alternate learn as follows:

Huobi, a less-dominant cryptocurrency alternate in comparison with Binance, Coinbase and OKEx, recorded $12.7 billion in buying and selling quantity this month.

The cryptocurrency buying and selling platform stated it should enhance spending in Southeast Asia, Europe and different international locations, in addition to discover potential strategic mergers and acquisitions to additional develop its ecosystem.

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