HTX, previously known as Huobi, has surprised many by retracting its application for a crypto license in Hong Kong shortly after submitting it. The Securities and Futures Commission’s official website, which lists crypto exchange license applicants, revealed that HTX, along with three other companies, has decided to withdraw their plans to expand services in Hong Kong. Despite this sudden change in direction, HTX has not provided any public statements regarding the matter.
This decision comes shortly after HTX, operating through its local subsidiary Huobi HK under HBGL Hong Kong Limited, applied for a virtual asset trading platform (VATP) license. The Securities and Futures Commission has only granted licenses to two exchanges in Hong Kong so far: OSL and HashKey Exchange in December 2020 and November 2022, respectively.
In a separate development on Feb. 21, Circle, a prominent issuer of stablecoins, made waves by announcing that it would no longer support USD Coin (USDC) on TRON, a blockchain network founded by Justin Sun, who also serves as an advisor to HTX. While the exact reasoning behind this decision remains undisclosed, Circle emphasized that it is in line with their commitment to maintaining USDC’s integrity as a trusted, transparent, and secure currency.
For further information, you may be interested in reading about HTX’s $250 million outflow following a hack in November. Stay updated by following us on Google News.