Dubai-based crypto exchange Bybit said it is working to establish its core Asian operations in Hong Kong and plans to base part of its research and development and marketing teams there, according to the Wall Street Journal. The exchange, which was founded in 2018, plans to apply for a licence in Hong Kong under proposed rules that come into effect in June.
Bybit ranked fourth among all exchanges in 24-hour trading volume, according to Tokeninsight data. 24-hour trading volume was US$9.3 billion, with derivatives trading accounting for 94.77 per cent of that.
On 20 March it was reported that according to the Hong Kong Financial Services Authority, 80+ Crypto Firms Eyeing Presence in Hong Kong.
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Policy and Regulation