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HTX has begun the registration and licensing process in Hong Kong

Market and Events: HTX has begun the registration and licensing process in Hong Kong

HTX Exchange, previously known as Huobi, has sought authorization in Hong Kong under a subsidiary overseen by HBGL Hong Kong Limited. In February 2024, five entities initiated the enrollment process in this region.

As per the Securities and Futures Commission of #Hong Kong (SFC), only OSL Digital Securities and Hash Blockchain have been granted a VATP permit within the domestic market.

A noteworthy addition to the recent candidates is #Bybit. Hong Kong implemented a licensing framework for service providers in June 2023, prompting a surge in applications from crypto #exchanges.

Interestingly, back in June 2023, HTX consultant #Justin Sun mentioned that it requires 6-12 months to secure approval from the SFC. Estimates suggest the procedure costs approximately $25 million.

As of the present moment, neither HTX nor Justin Sun have provided any statements regarding the current scenario.

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