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Huobi Offers Bitcoin And Crypto Trading To Hong Kong Investors

Huobi Offers Bitcoin And Crypto Trading To Hong Kong Investors

Huobi, a cryptocurrency exchange, is now allowed to offer Bitcoin and crypto spot trading in Hong Kong to both retail and institutional investors.

A Twitter post states that the exchange sent an application notice to the Hong Kong Securities and Futures Commission on May 29. Before they can start providing regulated services, crypto companies need to apply for a license.

Moreover, it said that the platform will work with auditors and focus on compliance and anti-money laundering rules. This is to meet the standards of the Hong Kong Securities and Futures Commission.

Hong Kong just put in place a crypto licensing system for crypto exchanges. This new system will protect small investors and make room for new ideas. BTSE, JPEX, and OKX, among other companies, have said they want to apply for the license.

The main Huobi website runs the Hong Kong service. On May 26, the exchange said that Huobi HK would offer Bitcoin, Ether, and other major coins.

Furthermore, the exchange at the time said, “Regulation of web3 in Hong Kong will contribute to the widespread adoption of cryptocurrencies on a global scale. Huobi will continue to collaborate with regulatory authorities in Hong Kong to support the development of a vibrant web3 hub.”

Additionally, the cryptocurrency exchange Huobi has seen a trading volume of $12.7 billion so far this month, trailing larger exchanges such as Binance, Coinbase, and OKX.


About Dren Hima

Being exposed to the crypto industry for the last few years has given me valuable experience with market analyses (technical and fundamental) as well as blockchain technology in general. As the content editor and a market analyst of Walletor, I strive to share the latest developments of the crypto industry, while also providing a unique educational experience for all Crypto & FinTech enthusiasts.

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