Huobi announced it's applying for a crypto trading license in Hong Kong to be approved to provide crypto services and offerings to customers in the city.
In addition, Huobi is launching a new exchange called Huobi Hong Kong, which will focus on providing trading services for institutional investors and high net worth individuals in Hong Kong.
According to TokenInsight data, the price of $HT went up by 17.84% over the last 24 hours, trading at $6.0616 now.
The Hong Kong Securities and Futures Commission's (SFC) new licensing regime will take effect on June 1st, under which all centralised virtual asset trading platforms carrying on business in Hong Kong or actively marketing to Hong Kong investors will need to be licensed by the SFC. Earlier today, the SFC announced the launch of a consultation on the proposed requirements for operators of virtual asset trading platforms. The consultation file included plans to allow individual investors to trade larger tokens like Bitcoin and Ether.
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