Tech

Huobi Exchange Seeks License In Hong Kong, Its Native HT Token Surges Overnight


Huobi Exchange is planning to expand its origin of operations in Hong Kong. In an effort to provide its services to retail customers, Huobi is seeking the relevant licenses in the special administrative region of China. The exchange contacted the Hong Kong Securities and Futures Commission (SFC) as part of the registration process. The development comes after Hong Kong was recently named the most crypto-ready country in the world by Forex’s Global Crypto Readiness Report.

by Huobi Long-term plans include the establishment of a brand new agency called Huobi Hong Kong exchange with an intact focus on serving large institutional and individual investors.

Justin Sun, founder Altcoin Tron as well as an advisor to Huobi shared the development on Twitter.

Soon after, Huobi Token (HT), the native token of the Huobi exchange, started to increase in price.

In the past 24 hours, HT has increased in value by 16%. At the time of writing, its value stands at $6.12 (approximately Rs 506) according to CoinMarketCap.

For Huobi, the decision to find a place for itself in the world crypto-ready country comes after the company survived a tough crypto winter.

Recent conversation lay off 20 percent of its workforce as a result of the market downturn wiped more than $200 billion (approximately Rs 16,55,300) from the industry.

With Hong Kong tightening the noose around crypto businesses, its administration is aiming to ensure that crypto investors as well as companies are protected from financial risks.

Hong Kong has observed a Cryptocurrency scams up 105% in the first six months of this year. Between January and July 2022, the crypto community in Hong Kong lost a total of $50 million (approximately Rs 400) to scammers.

In December 2022, Hong Kong Revision The Anti-Money Laundering (AML) and Countering the Financing of Terrorism (Amendment) Bill of 2022 also covers cryptocurrency transactions.

This step is intended to ensure that crypto assets are not misused by criminals to transfer money illegally.


Affiliate links can be generated automatically – see ours Moral standards for details.

For details on the latest launches and news from Samsung, Xiaomi, Realme, OnePlus, Oppo and others at Mobile World Congress in Barcelona, ​​visit MWC 2023.

news7f

News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button