Huobi HK is a Hong Kong-based crypto exchange open to both retail and institutional traders

On May 29th, Huobi HK announced that it has submitted an application for a cryptocurrency exchange licence in Hong Kong.

Huobi HK has filed for a virtual asset exchange licence and is currently providing crypto spot trading to retail and institutional customers in Hong Kong.

According to a tweet from the exchange on May 29, it has filed an application notice with the Hong Kong Securities and Futures Commission. Before delivering their regulated services, crypto companies must first apply for a licence.

According to the statement, the platform would collaborate with auditors to ensure compliance with and adherence to anti-money laundering rules. Intentionally doing so would help ensure compliance with the standards set out by the Hong Kong Securities and Futures Commission.

To safeguard retail investors and promote innovation, Hong Kong has just created a crypto licencing scheme for crypto exchanges. Several other companies have shown interest in applying for the licence; they include BTSE, JPEX, and OKX.

The Huobi main site is where you may access the Hong Kong service. On May 26th, Huobi HK announced that it will be listing Bitcoin, Ethereum, and other major cryptocurrencies.

The worldwide acceptance of cryptocurrencies will be aided by Hong Kong’s regulation of web3. ”Huobi will continue to engage with regulatory authorities in Hong Kong to assist the establishment of a flourishing web3 centre,” the exchange stated.

Huobi, a cryptocurrency exchange, has witnessed a total trading volume of $12.7 billion this month, ranking it fourth after Binance, Coinbase, and OKEx.

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