Justin Solar-related crypto alternate HTX, previously Huobi, has resubmitted its software for a Digital Asset Buying and selling Platform (VATP) license in Hong Kong. This transfer comes after it was reported to have withdrawn its preliminary software, in response to a discover on the Securities and Futures Fee (SFC) web site.
The preliminary software, filed by its Hong Kong subsidiary Huobi HK on Feb. 20, was retracted on Feb. 23 with none rationalization. Nevertheless, the newest replace on the monetary watchdog’s platform reveals that the alternate reinitiated the applying course of on Feb. 26.
HTX has but to answer CryptoSlate’s request for remark as of press time.
Final 12 months, Solar mentioned he was assured that Hong Kong regulators would grant HTX a license due to its standing within the Asian market.
SFC restates warning
In the meantime, Hong Kong’s SFC has stepped up its warning that unregistered crypto platforms should register by Feb. 29 or shut their companies by Could 31 by way of a pop-up on its web site.
The warning seems when a consumer accesses its web site part for itemizing registered platforms within the city-state.
It said:
“Digital asset buying and selling platforms working in Hong Kong which haven’t submitted their licence purposes to the SFC by 29 February 2024 should shut down their companies in Hong Kong by 31 Could 2024. Traders utilizing these platforms ought to make preparations early.”
Earlier within the month, the SFC issued a discover that urged unregistered platforms within the area to begin their licensing software course of earlier than Feb. 29. As of Feb. 27, the SFC has acquired seven contemporary purposes, together with submissions from main crypto corporations like HTX, Bullish, and Crypto.com, elevating the tally of alternate candidates on the regulatory roster to 19.
Regardless of this inflow, OSL and Hashkey stay the one licensed crypto exchanges in Hong Kong.
In the meantime, the regulator’s emphasis on license registration emphasizes its dedication to fostering a crypto-friendly ambiance. Final 12 months, Hong Kong launched a licensing framework for VATPs to facilitate retail buying and selling companies.
