• Skip to main content
  • Skip to primary sidebar

Biz Builder Mike

You can't sail Today's boat on Yesterdays wind - Michael Noel

  • Tokenomics is not Economics – Digital CX -The Digital Transformation
  • Resume / CV – Michael Noel
  • Contact Us
  • Featured
You are here: Home / Blockchain / Cryptocurrency exchange Huobi Global is seeking a license in Hong Kong

Feb 22 2023

Cryptocurrency exchange Huobi Global is seeking a license in Hong Kong

The cryptocurrency exchange known as Huobi Global is now in the process of applying for a license in Hong Kong, which comes at a time when the Chinese special administrative region is mulling over potential licensing and regulatory changes that would enable it to work with retail clients.

The new regulatory framework, which stipulates that cryptocurrency exchanges must register with the Securities and Futures Commission (SFC) of Hong Kong, would make it possible for the exchange to extend its service offerings to include the city. According to a thread that was started on Twitter by Justin Sun, Huobi intends to launch a new exchange in Hong Kong that will be called Huobi Hong Kong and would cater mostly to high-net-worth people and institutions.

The Securities and Futures Commission (SFC) only just made the new Hong Kong licensing proposals available for public comment, and the new regulations are scheduled to take effect in June. As soon as suppliers of financial services heard about the impending adjustments, they began making preparations to participate in the upgraded system in December.

During an interview with Nikkei Asia, Sun said that Huobi may raise the number of employees working out of its Hong Kong office from 50 to 200 this year. He said that the move was prompted by Hong Kong’s favorable position on cryptocurrency as well as the prospect of retail sales.

In January, Huobi said that as part of the firm’s reorganization after Sun’s acquisition of the company in October, they would be laying off twenty percent of its workforce. The cryptocurrency exchange said in February that it would “strategic and product modifications” be the reason why its Huobi Cloud Wallet will be discontinued in May.

According to Nikkei Asia, Huobi is reportedly looking into the possibility of relocating its headquarters from Singapore to Hong Kong.

Huobi is also working to extend its service offerings in a number of other locations. It was revealed in January that the company is going to create a crypto-to-fiat debit card supported by Visa. Customers of Huobi who live in the European Economic Area will be able to use this card everywhere Visa is accepted. It is anticipated that you will be able to purchase that card around the second quarter of this year.

[mailpoet_form id="1"]

Cryptocurrency exchange Huobi Global is seeking a license in Hong Kong Republished from Source https://blockchain.news/news/cryptocurrency-exchange-huobi-global-is-seeking-a-license-in-hong-kong via https://blockchain.news/RSS/

Written by bizbuildermike · Categorized: Blockchain · Tagged: blockchain

Primary Sidebar

https://youtu.be/Qvad1CQ9WOM

Blockchain Weekly Rebooted –

During the Blockchain Spring 2016 to 2020 I hosted Blockchain Weekly. Each week I interviewed someone who was doing interesting things in the blockchain space. At one time we had 29k subscribers and we were consistently getting over 15k views a week on the channel. All of that went away during the lockdown, including the Gmail address that controlled that channel. Recently, I found some of the original videos on some old hard drives. So I’m reposting a few of the relevant ones while I am starting to shoot new Blockchain Weekly Episodes to be aired 1st quarter 2023. Please subscribe to bless the You Tube Algorithm, and allow me to let you know about any updates! Our Sponsor – https://BlockchainConsultants.io

The Utah State Legislature has approved a new law, the Utah Decentralized Autonomous Organizations Act, providing legal recognition and limited liability to decentralized autonomous organizations (DAOs). This legislation, also known as the “Utah LLDs,” was passed after the combined efforts of the Digital Innovation Taskforce and the Utah Blockchain Legislature. The Utah DAO Act defines […]

Search Here

Market Insights

  • FTX Founder Allegedly Sought Federal Regulation Before Collapse
  • DeFi Hack Linked to North Korea
  • US Banking Crisis Fuels Regulation Debate
  • HSBC approves multi-million-pound bonuses for Silicon Valley Bank UK staff
  • Swiss regulators consider UBS takeover of Credit Suisse to prevent collapse
  • Mid-Size Banks Ask for Deposit Insurance Extension
  • Former Coinbase CTO Bets $1 Million on Bitcoin Reaching $1 Million in 90 Days
  • Binance Responds to U.S. Senators Letter, Excludes Financial Data
  • Crypto Entrepreneur Bail Package Revised
  • DeFi Hacker Returns $5.4M to Euler Finance

Tags

AI (259) andrewchen (4) Biz Builder Mike (28) Blockchain (824) Crowd Funding (68) crowdfundinsider (2) entrepreneur (957) eonetwork (42) Front Page Featured (33) MIT AI (89) startupmindset (145) Technology (667) virtual reality (1) youngupstarts (99)
  • Twitter
  • Facebook
  • About Us
  • LinkedIn
  • ANTI-SPAM POLICY
  • Google+
  • API Terms and Conditions
  • RSS
  • Archive Page
  • Biz Builder Mike is all about New World Marketing
  • Cryptocurrency Exchange
  • Digital Millennium Copyright Act (DMCA) Notice
  • DMCA Safe Harbor Explained: Why Your Website Needs a DMCA/Copyright Policy
  • Marketing? Well, how hard can that be?
  • Michael Noel
  • Michael Noel CBP
  • Noels Law of decentralization

Copyright © 2023 · Altitude Pro on Genesis Framework · WordPress · Log in