Huobi Hong Kong Withdraws License Application for the Second Time

As a researcher with experience in the cryptocurrency industry, I find it concerning that Huobi Hong Kong has withdrawn its license application for a second time. The lack of clarity surrounding the reasons for this withdrawal from both Huobi and the Securities and Futures Commission (SFC) is disquieting.

The Hong Kong branch of HTX Corporation has pulled back its request for a permit to trade virtual assets in Hong Kong, as indicated in a notice posted on the Securities and Futures Commission’s site.

The South China Morning Post first reported that Houbi Hong Kong had withdrawn its license.

By the deadline, I hadn’t received a response to my email directed towards Huobi Hong Kong’s representative, who works for HBGL Hong Kong Limited.

If you are a platform that has failed to submit a license application to Hong Kong’s Securities and Futures Commission (SFC) by May 31st, you will be required to shut down your operations. The SFC has not disclosed the reason for the withdrawal of the application.

Several prominent cryptocurrency trading platforms, such as OKX, Crypto.com, and Bullish, are undergoing license evaluations from the Securities and Futures Commission (SFC) at this time. Notably, Bullish is the parent company of CoinDesk.

In June 2023, HTX’s Justin Sun said that Huobi Hong Kong would have a license in 6-12 months.

HTX maintains that Huobi Hong Kong is a wholly separate entity.