Huobi has made a big move by launching its crypto services in Hong Kong. This comes after Hong Kong introduced new regulations to protect investors and promote innovation in the crypto space. Huobi’s entry has sparked interest from other major firms, including BTSE, JPEX, and OKX, who also plan to apply for the license. With a trading volume of $12.7 billion this month alone, Huobi aims to establish itself alongside top exchanges like Binance, Coinbase, and OKX.
Hong Kong investors now have access to a wide range of cryptocurrencies through Huobi’s Hong Kong website, known as Huobi HK. The exchange has already listed popular coins like bitcoin and ether, allowing local traders to participate in spot trading and increase market liquidity.
Moreover, Huobi is fully committed to complying with Hong Kong’s crypto regulations. The exchange has expressed support for the newly implemented licensing regime, highlighting its belief that regulation will contribute to the wider adoption of cryptocurrencies globally. Huobi is collaborating with Hong Kong regulatory authorities to foster an environment conducive to Web3 innovation.
To ensure adherence to regulatory standards, Huobi is in the process of applying for a Virtual Asset Trading Platform (VATP) license. This license will enable the exchange to enhance its services, focusing on security, compliance, and anti-money laundering measures. Independent auditors are working with Huobi to ensure transparency and accountability.
“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.” – Huobi Representative
With Huobi’s established reputation and substantial trading volume, its presence in Hong Kong is poised to make a significant impact in the region’s growing crypto ecosystem. Let us wait and see for their exciting journey!
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