1. BITBILIHome
  2. Article

Huobi HK introduces crypto spot trading services in Hong Kong, aims for regulatory compliance

• 103 views

TL;DR Breakdown

  • Huobi HK applies for a virtual asset exchange license in Hong Kong, enabling the provision of crypto spot trading services to retail and institutional clients.
  • Hong Kong’s crypto-friendly regulatory environment supports the move, aiming to protect investors and foster innovation in the cryptocurrency sector.
  • Huobi HK prioritizes compliance and regulatory adherence, collaborating with auditors to meet anti-money laundering regulations and the Hong Kong Securities and Futures Commission requirements.

Huobi HK, a subsidiary of digital asset exchange Huobi Global, has taken a significant step in the crypto industry by applying for a virtual asset exchange license in Hong Kong. The exchange submitted an application notice to the Hong Kong Securities and Futures Commission on May 29, aligning with the regulatory requirements for offering regulated services. The move reflects Huobi HK’s commitment to compliance and regulatory standards.

Hong Kong’s crypto-friendly regulatory environment

Hong Kong has recently implemented a regulatory framework to protect retail investors and foster innovation in the cryptocurrency sector. Under this framework, licensed cryptocurrency platforms will be permitted to cater to retail investors, and guidelines encompassing asset custody safety requirements, cybersecurity standards, and client asset segregation will be implemented from June 1. The new licensing regime aims to position Hong Kong as a leading hub for digital assets.

Huobi HK’s decision to offer crypto spot trading services to both retail and institutional clients in Hong Kong is part of its strategic expansion plan. The platform will work closely with auditors to ensure compliance with anti-money laundering regulations and meet the requirements set by the Hong Kong Securities and Futures Commission. By prioritizing compliance and regulatory adherence, Huobi HK aims to provide a trusted and secure platform for cryptocurrency trading.

Hong Kong’s push to become a global hub for Web3 technologies is gaining momentum, and Huobi HK is positioning itself to play a significant role in this ecosystem. The launch of Huobi HK will allow users to buy, sell, and hold mainstream cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), as well as other major cryptocurrencies listed on the independent index. With a focus on delivering an excellent trading experience, Huobi HK aims to drive the adoption of cryptocurrencies in Hong Kong.

Huobi’s commitment to Web3 and regulatory collaboration

As an established cryptocurrency exchange platform with a decade-long history, Huobi is actively involved in developing and constructing Hong Kong’s Web3 ecosystem. The company has become a significant contributor to Hong Kong’s first Web3 ecosystem fund and is preparing to apply for a cryptocurrency trading license in Hong Kong. Huobi recognizes that the regulation of Web3 in Hong Kong will contribute to the global adoption of cryptocurrencies and remains committed to collaborating with regulatory authorities to support the vibrant growth of the Web3 hub.

Huobi’s expansion into Hong Kong’s crypto market comes when the platform has seen substantial trading volumes, highlighting its position among prominent exchanges in the industry. With a focus on compliance, regulatory adherence, and developing a robust Web3 ecosystem, Huobi HK aims to solidify its presence in Hong Kong and contribute to the widespread adoption of cryptocurrencies globally.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Huobi HK introduces crypto spot trading services in Hong Kong, aims for regulatory compliance

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月2日 00:03
Next 2023年6月2日 01:10

Related articles

  • Major warning: U.S. economy on the brink of recession

    TL;DR Breakdown The U.S. economy faces a 59% risk of recession by July 2024, down from a 64% prediction in March 2023. The Federal Reserve’s fast and high interest rate hikes historically lead to business cycle downturns. Despite economic slowdown and tighter lending standards, consumers continue spending and the labor market remains active. Description Barely escaping a 3-in-5 likelihood, the U.S. economy finds itself precariously positioned on the edge of a potential recession by July 2024. A precipitous fall in these odds, from a staggering 64 percent in March 2023, underscores the growing concern and uncertainty among economists. This downturn looms over the economic landscape, a thundercloud waiting to … Read more Barely escaping a 3-in-5 likelihood, the U.S. economy finds itself precariously positioned on the edge of a potential recession by July 2024. A precipitous fall in these odds, from a staggering 64 percent in March 2023, underscores the growing concern and uncertainty among economists. This downturn looms over the economic landscape, a thundercloud waiting to release its tempest. Rising rates and recession risks The Federal Reserve’s aggressive strategy,…

    Article 2023年7月14日

  • Crypto Twitter abandons Threads after brief affair – Why?

    TL;DR Breakdown Meta’s Threads attracted the crypto community with its compatibility with decentralized protocols. Privacy concerns and lack of innovation led to a rapid decline in users. Competition and Meta’s history with standalone apps contributed to the breakup with crypto Twitter. Description Meta’s recently launched social app Threads seemed poised to become the next big thing, gathering millions of eager participants in just days. One prime target for this frenzy? The vibrant crypto community, a group no stranger to the fast-paced world of online platforms. But despite an initial infatuation, the love affair between Crypto Twitter and … Read more Meta’s recently launched social app Threads seemed poised to become the next big thing, gathering millions of eager participants in just days. One prime target for this frenzy? The vibrant crypto community, a group no stranger to the fast-paced world of online platforms. But despite an initial infatuation, the love affair between Crypto Twitter and Threads seems to have cooled down almost as quickly as it heated up. What happened? The initial attraction Threads burst onto the scene with an…

    Article 2023年7月31日

  • ECB on edge: Will rates surge again? Experts weigh in

    TL;DR Breakdown The European Central Bank (ECB) is at a crossroads, considering whether to raise interest rates for the tenth time in a row. Dwindling business confidence and a decline in German industrial production signal potential economic downturn. Despite these concerns, inflation in the eurozone remains high at 5.3%, well above the ECB’s 2% target. Description The financial world stands poised, eyes locked on the European Central Bank (ECB). Speculation mounts as experts debate the ECB’s next move. Will they raise interest rates once more, or has the peak of their tightening policy been reached? As the dust from previous policy changes begins to settle, a fresh storm of uncertainty looms … Read more The financial world stands poised, eyes locked on the European Central Bank (ECB). Speculation mounts as experts debate the ECB’s next move. Will they raise interest rates once more, or has the peak of their tightening policy been reached? As the dust from previous policy changes begins to settle, a fresh storm of uncertainty looms large. A Game of Predictions and Expectations After a steady climb…

    Article 2023年9月11日

  • Peter Schiff claims Fed’s inflation battle is doomed

    TL;DR Breakdown Peter Schiff predicts the Federal Reserve’s fight against inflation is doomed, despite market optimism. According to him, the markets are experiencing bear market rallies, missing the worsening inflation situation. Despite some encouraging figures, such as strong employment numbers, he warns against ignoring persistent weak economic data. Description In a world where economics takes center stage, the art of forecasting is invaluable. But what happens when those predictions signal doom? Peter Schiff, an esteemed economist, has ventured to make such a daring prophecy. He firmly asserts that the Federal Reserve’s battle against inflation is not only a losing endeavor but is already lost. … Read more In a world where economics takes center stage, the art of forecasting is invaluable. But what happens when those predictions signal doom? Peter Schiff, an esteemed economist, has ventured to make such a daring prophecy. He firmly asserts that the Federal Reserve’s battle against inflation is not only a losing endeavor but is already lost. Grim forecast amid rallying markets Even as stock indices like Nasdaq, the S&P 500, and the Dow Jones…

    Article 2023年7月8日

  • Coinbase unveils its global zero-trading subscription service ‘Coinbase One’

    TL;DR Breakdown Coinbase has expanded its zero-fee subscription service, Coinbase One, beyond the U.S. to include the U.K., Germany, and Ireland, with plans for further international expansion. The service, priced at $29.99 per month, offers customers zero trading fees, higher staking rewards, access to analytics, and 24/7 dedicated support, among other benefits. Despite its international growth and introduction of a global platform for crypto derivative trading, Coinbase reaffirms its commitment to the U.S. market. Cryptocurrency exchange titan, Coinbase, has taken its pioneering zero-fee subscription service, Coinbase One, from beta testing to global expansion. First launched as a US exclusive in 2021, Coinbase One has now spread its wings, reaching across the Atlantic to customers in the United Kingdom, Germany, and Ireland. 2/ The best of Coinbase just got ✨better✨ Unlock zero trading fees, a dedicated support team, boosted staking rewards, and exclusive benefits from partners with Coinbase One — all for $29.99/month. Claim your 30-day free trial → https://t.co/agCecP7lsp — Coinbase 🛡️ (@coinbase) May 18, 2023 For a relatively modest fee of $29.99 per month, customers can now enjoy the…

    Article 2023年5月19日
TOP